ingenie selects SAS® to promote better understanding of risk among young drivers
SAS Office Analytics enhances pricing and marketing accuracy for ingenie
22 May 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 behaviour-based pricing and marketing programmes to its customers. ingenie has selected SAS Office Analytics to analyse huge volumes of data on driving behaviours and patterns that can improve pricing accuracy and insurance premiums for customers.
Young drivers can lower their insurance premiums by installing an ingenie 'telematics' box into their car which monitors driving behaviour. The box collects real-time data on numerous elements including acceleration, speed, braking and cornering. The data is analysed and used to build up a picture of someone's 'driving DNA'. It means rewards for safe driving by lowering premiums while reckless driving is penalised by higher premiums, ultimately encouraging young people to drive safely.
Richard King, founder and CEO at ingenie, comments: "Insurance is expensive for young drivers because one in five has a crash within six months of passing their test. The way to 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. 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."
Mark Wilkinson, managing director, SAS UK & Ireland, says: "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. 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."
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 60,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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