Telematics provider ABAX enters new business sector, motor insurance, using AI analysis from Greater Than
ABAX, one of the largest telematics companies in Europe, has selected Greater Than as AI-analysis platform partner towards the insurance market. Enabled by the AI technology, ABAX is tapping into the commercial insurance market, launching a dynamically priced auto insurance offering in Norway for its B2B fleet customers.
The new insurance offering is a leap forward for ABAX in its continuous work analyzing mobility data to provide added value for its customers and fleets in the B2B market. With the dynamically priced offering, ABAX customers can benefit from increased transparency, and lower insurance cost through the Tryg insurance solution.
Greater Than is an AI data analytics company that predicts crash probability and CO2 impact per driver in real-time, revolutionizing auto insurance pricing and new business solutions for the automotive, new mobility and fleet industries globally.
The niche product development started with thoroughly analyzing the entire customer base, followed by strategically designing the most tailored, attractive, and competitive offer.
"Integrating the two platforms is a huge competitive advantage. The ABAX platform with real-time data, combined with the leading AI platform from Great Than, will provide one of the best risk analysis tools in the insurance industry. This collaboration enabled us to develop the first B2B data-driven insurance solution together with Tryg Norway."– says Morten Strand, CEO of ABAX
"It is exciting to work with ABAX on their journey into this new field of using mobility data in the insurance business for the B2B market. They break ground for the next generation of telematics. Their market expertise and our competence in risk analysis with precise pricing make us the perfect match to continue to disrupt and develop at a fast pace."– says Liselott Johansson, CEO of Greater Than
Greater Than and ABAX entered their partnership in the spring of 2022 with the aim to combine ABAX's ability to use and provide connected fleet offerings with Greater Than's ability to transmit vehicle data via an API connection to Greater Than's cloud-based AI data analytics for business development modeling.