One of the leading insurance companies in japan, Sony Assurance has launched a new motor insurance plan which rewards customers with a cashback of up to 30% for safe driving which is tracked through artificial intelligence (AI) in the plan called ‘good drive’, customers install a dedicated app, supported by AI on their smart phones. The app measures acceleration, braking, steering wheel, handling and other conditions and assigns ratings to drivers driving habits. The cashback rate is determined based on a five-level rating system with those who obtain the highest on safest rating eligible to receive a 30% cashback. According to a test conducted by Sony assurance, drivers who use the app can expect to reduce the accident rate by about 15% compared to those who do not. The mobility service offers new value to motor insurance by providing incentives to reduce the risk of accidents to drivers.
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