Insurtech company Greater Than enters the Irish market by entering a partnership with Zurich Insurance UK and Sixt Ireland. With a common goal to increase safety and driver influence in the car rental industry, the partners will implement Greater Than’s AI-based, digital risk assessment platform on the entire Sixt car fleet on Ireland – giving more than 3500 vehicles a new, user-based management tool.
The partnership makes way for Zurich Insurance and car rental company Sixt on Ireland to integrate a user-based, digital risk assessment and fleet management solution on the entire Irish Sixt fleet. For Sixt customers the system aims to increase safety and reward a safe driving behavior, which is possible through technology from Greater Than that uses AI, machine learning and Big Data to calculate and price risk in real-time.
“We are continuously looking for innovative solutions that can enhance our business processes, and this AI-based tech platform is of great value for that advancement. Influencing drivers to drive safer is essential to us and this is another good example of thinking outside the box”, says Darren Stoddart, Senior Underwriter, Emerging Motor Risks at Zurich Insurance.
Zurich Insurance is one of the world’s leading multi-insurers that operates in more than 170 countries. The client Sixt Ireland is a part of the global Sixt Group, who provides high-quality mobile services in more than 2100 stations across the globe, managing a total fleet of more than 238 000 vehicles.
Greater Than and its AI-based platform Enerfy offers real-time risk profiling and individual premium pricing for auto insurance. The growing company has established several insurance solutions in Northern Europe and Asia, while recently also entering a partnership with the global organization FIA, Fédération Internationale de l’Automobile, to create a new global competition, FIA Smart Driving Challenge.
“Joining forces with three major partners like Zurich, Sixt and Marsh demonstrates that our strategy to establish global presence is underway. This is a large step on our path towards international expansion” says Liselott Johansson, CEO at Greater Than.
The partnership was managed by Marsh, one of the global leaders in insurance broking and risk management with operations in more than 130 countries.
Andrew Lyons, Media Relations Manager, Zurich Insurance UK
With over 14 years of experience in connected cars, Greaer Than has analyzed billions of kilometers of live driving data and developed services for drivers that contribute to safer, more environmentally friendly driving. Greater Than’s technology, based on machine learning, has raised artificial intelligence to a new level as we continuously train the algorithms based on millions of automated decisions every day. The foundation for the set of algorithms that assesses and prices risk in real-time has created an opportunity for a new business model in car insurance. To read more, visit www.greaterthan.eu
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty and life insurance products and services in more than 170 countries and territories. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX.
Sixt Ireland is a part of Sixt SE, a leading international provider of high-quality mobility services and has representations in over 100 countries worldwide. Sixt was founded in 1912 and maintains alliances with renowned brands in the hotel industry, well-known airlines and numerous prominent service providers in the tourism sector.