Swiss Re and global car electronics company Pioneer have co-developed an innovative telematics solution that provides Insurers with better and more personalised risk assessment, while supporting safer driving behaviour. The combined solution will be integrated in Swiss Re’s coloride app and is set to be launched globally early next year.
Swiss Re’s Coloride is one of the most technically advanced and sophisticated telematics apps globally. It assigns a risk score to each driver that an Insurer can use to calculate the usage based Insurance premium. By offering a financial incentive to cautious drivers and flagging risky behavior, Insurers can encourage responsible driving making roads safer for everyone. Road traffic accidents kill 1.2 million people every year costing economics between 1% – 3% of their gross national product according to estimates of the World Health Organisation.