Tryg Norway’s insurance offer for young drivers
How Tryg Norway used Greater Than’s data analysis to create an app-based fair insurance offer for young drivers
Our vision is to be at the forefront and to create products with the user in focus; therefore, this investment is a step very close to our hearts
Jannicke Schumann-Olsen
Director, Tryg Norway
Creating a dynamic insurance offer for young car owners
Tryg, one of the largest insurance companies in Norway, is known for its customer-centric approach to insurance. Knowing that insurance policies are more expensive for young drivers, Tryg Norway wanted a more flexible alternative for younger car owners.
In partnership with Greater Than, Tryg Norway developed Sidekick, a smart car insurance that calculates the price of the policy based on how the person drives.
Incentivizing young drivers to adopt safer behaviors
Sidekick, a dynamic, app-based insurance offer, was successfully launched in 2018 targeting young car owners aged 18-30. The offering combines a fixed price, with deductibles of up to 30% for safe driving behavior.
The Sidekick app incorporates gamification to encourage young people to drive more safely. For example, users can compete with friends to see who is the safest driver, they receive tips in the app to help them driver smarter and save more, and they can also save money via referrals.
With innovations such as Sidekick, we give young Norwegian car owners a greater influence over their costs, at the same time helping to reduce the number of traffic crashes on our roads by rewarding safe driving behavior.
Jannicke Schumann-Olsen
Director, Tryg Norway
Identifying new market opportunities
Recognizing that electric vehicle (EV) owners were also facing higher auto insurance prices, in 2022 Tryg Norway announced that it would tailor Tryg Sidekick to include EVs.
As Norway is the world’s largest market for EVs, the new offering will meet the fast-growing demand for personalized premiums compared to the traditional pool pricing model for EVs.
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