Another recognition of Amodo’s innovation edge – EFMA Accenture awards AIG Singapore’s AIG On the Go
After the recognition received by the Ptolemus and their Mobile insurance global study, in which AIG Singapore’s AIG On the GO project was named among the top 3 UBI mobile propositions in Asia, this month Efma Accenture Innovation in Insurance Awards highlights AIG On the Go for Insurance Innovation of the Month. Learn more here.
How driving behavior data can become a powerfull tool for achieving insurance company business goals.
Our solution was not just another telematics app offering standard discounts based on driving behaviour. We flipped the entire model by decoupling the app from the insurance and making it available to the general population with a solution that featured gamification and social contests with an instant rewards program including lifestyle benefits to the customers based on their driving behaviour. said Daryl Png, product innovation lead at AIG Singapore.
Together with the development team of AIG Singapore Amodo is working on further development of the solution, pushing the Insurance Innovation frontiers. AIG On the Go represents the company’s vision to connect with its customers, bearing in mind to engage and educate drivers on the importance of road safety.
About AIG on the Go app
Award-winning AIG on the Go is the Usage-Based Insurance app, with Try Before You Buy (TBYB) and Pay How You Drive (PHYD) concept for the new and existing customers of AIG Singapore. The clear goal of this program is the education of drivers aiming to improve their driving skills in the entertaining and engaging way.
Data is collected via GPS sensor of user smartphone to measure speed, acceleration, cornering, and braking while driving. Based on these parameters and scoring, driving behavior is evaluated with Amodo scoring system. Driver receives a detailed evaluation of his driving behavior after every journey.
The program provides premium discounts with up to 15 percent applied at renewal, and various rewards, usual e-vouchers from AIG partners. Additional features include driving contests, in which drivers compete against each other to win prizes valued up to $SG 10,000.
Amodo enables insurers to develop a new category of products based on data. The platform collects data from smartphones and other connected devices in order to build holistic customer profiles, providing better insights into customer risk and customer products needs. Amodo team puts a great effort to build efficient and automated customer engagement technology, which is the critical success factor in affecting customer behavior. Amodo technology and methodology is approved by insurers around the world.