ingenie selects SAS® to promote better understanding of risk among young drivers
SAS Office Analytics enhances pricing and marketing accuracy for ingenie
CARY, NC (28. maj 2013) – SAS, the leader in business analytics, has been selected by ingenie, the car insurer for young drivers, to enhance its use of telematics data and deliver behavior-based pricing and marketing programs to its customers. With SAS Office Analytics, ingenie will analyze huge volumes of data on driving behaviors and patterns to improve customer pricing accuracy and insurance premiums.
Young drivers can lower their insurance premiums by installing an ingenie 'telematics' box into their car which monitors driving behavior. The box collects real-time data on numerous elements including acceleration, speed, braking and cornering. The data is analyzed to build up a picture of someone's 'driving DNA'. It means rewards for safe driving by lowering premiums while penalizing reckless driving by higher premiums, ultimately encouraging young people to drive safely.
To exploit this data, ingenie requires a powerful and innovative analytics solution to analyze big data created by its telematics boxes and gain critical insight into the large number of variables that contribute to how customers drive. ingenie chose SAS to apply advanced analytics that could cope with the sizeable and increasing volume and variety of telematics data that it collects.
"Insurance is expensive for young drivers because one in five has a crash within six months of passing their test," said Richard King, founder and CEO at ingenie. "The way to help prevent these crashes is to make sure young drivers have the right attitude behind the wheel. That's why we give our customers personal feedback to improve their driving, and reward the safest drivers with quarterly discounts."
"In order to get the most accurate information for our customers, our telematics box collects up to 25 times more data than traditional telematics devices, and this is why we needed the powerful analytics solution we found in SAS," said King. "The result is that we can educate young drivers to make better, safer decisions on the road and get a fairer price for their insurance."
"ingenie needs a powerful data management solution to maintain its commitment to young drivers, many of whom suffer from negative perceptions with insurers as a result of driving errors from a minority group," said Mark Wilkinson, managing director, SAS UK & Ireland. "By applying analytics to its data to better understand customer profiles, SAS is delighted to be supporting ingenie in rewarding new, young drivers who sensibly observe the rules of the road."
With SAS, ingenie will be working to increase awareness of telematics and the use of analytics to promote cheaper insurance premiums, and encourage safer driving among young people.
Read the white paper "Telematics: How Big Data is Innovating Auto Insurance" on why information management and analytics are essential tools to help insurers succeed with these projects.
ingenie provides car insurance for 17-25 year olds and brings together a community of better drivers. A black box is fitted out-of-sight in the car to assess individual driving styles. Regular driving feedback is available via ingenie's mobile app or online. Driving trends and patterns are assessed rather than isolated incidents - policies are reviewed every three months with discounts applied to the best drivers in the community.
ingenie is backed and supported by footballer turned broadcaster Gary Lineker and Williams F1 who have assisted in the development of ingenie's telematics technology as well as supporting our road safety initiatives.business analytics-udbyder og den største uafhængige spiller på business intelligence-markedet. SAS leverer innovative løsninger, der giver virksomheder grundlag for at træffe bedre beslutninger hurtigere. SAS giver dig The Power to Know® .
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