. SafetyNex is a Smartphone road safety App that works like a true digital co-pilot : warning the driver when approaching a dangerous area, once the excessive speed of the vehicle clearly shows that the driver did not notice the danger. SafetyNex records for insurers profiles of risk and usage.
. Insurance Companies can use SafetyNex for several purposes :
– Increase operating margin of the insurer
SafetyNex can prevent 20% of road accidents according studies published in Great Britain and the USA. If the insurance company deploys SafetyNex with no premiums change : it offers a tool to its policyholders perceived as useful, and it decreases the accident of 20%. Moreover, accidents that may not be avoided come statistically slower (because the driver is warned and has time to slow down), the loss ratio is lower. This applies to all drivers, including young drivers that are costly to insurers.
– Pay as you drive: usages are plotted (km traveled, type of infra City / Highway / Highway, time slots, etc …) allowing to offer per-use rates.
– Pay how you drive: the risk taken by the driver is measured, and allows the insurer to adjust its client segmentation and its prices if it wants to offer rates modulated by the risk.
– Ecological bonus: SafetyNex incorporates an optional eco-driving scoring system that is inversely proportional to the brutality of driving.
– Prevention: the risk profiles can be crossed with class of risk (inappropriate speed cornering, on crossing over pedestrian zones, etc …) so it is possible to provide sensitization, courses, and targeted training on a population.
– Silver coaching: risk monitoring among time may help to detect a decline in driving ability for seniors. In such a case, the insurer may act to help its customers to lower their risk while staying as long as possible a driver.
– Support: in severe crash, the smartphone pops up a « big OK button » for calling in one click a phone number prerecorded by the App.
NB: SafetyNex fits perfectly with deep changes in the car insurance business, as presented in publications of Major Consulting Groups (Accenture, BCG, Deloitte, KPMG, McKinsey, etc …)
SafetyNex doesn’ record any raw data and / or intrusive data (100% CNIL and privacy protection compatibility). All raw data required for risk assessment are used INSIDE the smartphone (computing on the microprocessor of the smartphone) and those raw data are not recorded.
SafetyNex was validated on 50 million km.
Data recorded in the cloud are histograms (profiles) and all crossings of variables:
. usage : kilometers traveled, city / highway / motorway, time slots, geographical area (department)
. risk (histograms and broad risk categories)
. Eco rating (optional)
Here are papers of NEXYAD:
The Ultimate Solution for Insurance Companies that need Onboard Risk Assessment.