FANews
FANews
RELATED CATEGORIES

Discovery Insure recognised as a Model Insurer at Celent Model Awards Program ceremony held in Boston, Massachusetts

25 April 2018Ilan Ossin, Discovery
Ilan Ossin, Discovery’s Head of Telematics.

Ilan Ossin, Discovery’s Head of Telematics.

At the 2018 Celent Model Awards Program ceremony held in Boston, Massachusetts, Discovery Insure’s Vitalitydrive smartphone programme was recognised as a Model Insurer in the Innovation and Emerging Technologies category.

“Discovery Insure is pleased to be recognised as a Celent Model Insurer for Innovation and Emerging Technologies. With high accident rates and road deaths being a concern for many countries, our approach continues to be to make drivers aware of their poor driving behaviour and motivate them to improve – reducing the number and severity of accidents and claims. We do this because we understand that the nature of risk is behavioural,” says Ilan Ossin, Discovery’s Head of Telematics.

The Vitalitydrive programme, empowered by telematics technology, uses powerful incentives to encourage better driving behaviour, directly reducing the cost of insurance, as better drivers have fewer and less severe accidents.

“These savings are passed back to the clients through Vitalitydrive rewards, and society benefits as roads become safer. This is called the Shared-Value Insurance model, because value is created and shared between the insurer, clients and society,” says Ossin.

Discovery Insure’s Vitalitydrive sensor and smarpthone application, developed in partnership with Cambridge Mobile Telematics (CMT), is an innovative smartphone-enabled technology called DQ-Track. It enables Discovery Insure to measure vehicle dynamics (acceleration, braking, cornering), time of day, and mileage, and enables drivers with smartphones to improve their driving behaviour to ultimately reduce the risk of an accident.

“Discovery’s implementation of the Vitalitydrive programme is already showing positive results and we see this award as further proof that telematics can be the answer to many of today’s road safety issues,” said Hari Balakrishnan, Founder and Chief Technology Officer at CMT. “We are continuously improving our programme with Discovery and are proud to partner with them on such a worthy mission.”

The Celent Model Insurer, an annual programme now celebrating its 12th year, accepts global nominations in five categories; Data, Analytics and AI, Digital and Omnichannel Technologies, Innovation and Emerging Technologies, Legacy and Ecosystem Transformation, and Operational Excellence.

Celent offers Discovery Insure a further special mention: “The smartphone enabled telematics technology with the innovative IoT Vitalitydrive sensor reduces the logistics for enabling the telematics programme. This positions the programme for continued, future growth. Second, the smartphone app serves as an active touch point with the customers, providing the opportunity for higher customer engagement and increased loyalty.”

Quick Polls

QUESTION

A few years ago, clients had to prove themselves to insurers. Things have changed. Do you believe the onus of proof lies with the insurer today?

ANSWER

Yes
No
It depends
AE fanews magazine
FAnews April 2018 EditionGet the latest issue of FAnews

This month's headlines

New draft premium collection legislation
Insurers… close to sleep deprivation
Disability cases are not for amateurs
A rethink of product strategies
Will retirement really last a lifetime?
Subscribe now