Collaboration permits entry to linked automobile knowledge for insurance coverage suppliers throughout Europe
MANCHESTER, England, June 28, 2022–(BUSINESS WIRE)–Wejo Group Restricted (NASDAQ: WEJO), a world chief in Good Mobility cloud and software program options for linked, electrical and autonomous automobile knowledge, as we speak introduced a collaboration with Ford Motor Firm in Europe which provides Wejo entry to customized linked automobile knowledge from Ford automobiles throughout the continent. This helps the supply of information and insights to insurance coverage suppliers that leverage user-based intelligence for end-to-end insurance coverage. Insurance coverage suppliers, in flip, can leverage the info to raised perceive driving behaviors and to drive efficiencies, together with by minimizing fraud.
“Offering actionable knowledge insights to insurance coverage suppliers is one other instance of how Wejo is increasing into further markets and demonstrating new use instances for OEMs and insurance coverage firms to monetize linked automobile knowledge for good,” stated Richard Barlow, founder and CEO, Wejo. “We are going to proceed to work with companions like Ford and different automobile OEMs to look past insurance coverage to establish all of the use instances for linked automobile knowledge.”
As a part of this collaboration, Wejo leverages Ford’s end-to-end knowledge consent course of by way of which the insurance coverage firm positive factors consent from the client to entry the customized automobile knowledge reminiscent of automobile location, pace and mileage. As soon as supplied, that consent is then handed again to Ford by way of Wejo to launch the info for evaluation and perception. The linked automobile knowledge (CVD) is then handed again to the insurer to ascertain usage-based end-to-end automotive insurance coverage insurance policies which might be interesting to the client primarily based on their secure driving or restricted mileage.
Graeme Stevens, Supervisor, Third Social gathering Enablement at Ford of Europe, stated: “At Ford we imagine within the energy of harnessing linked automobile knowledge. Via the insights our automobiles and prospects can present us, with full consent, we’re capable of higher perceive driving behaviors and in the end make the insurance coverage expertise a way more tailor-made and cost-effective expertise for our prospects. We need to proceed to show how by way of connectivity we’re capable of assist make the driving expertise throughout Europe higher.”
The partnership focuses on outlined knowledge units created particularly for end-to-end insurance coverage in Europe. These knowledge units, coupled with Wejo’s broad vary of capabilities and expertise in decoding historic and real-time linked automobile knowledge, together with over 76.7 billion journeys thus far collected from roughly 13 million linked automobiles, create a chance for deep insights and understanding, in addition to furthering its promise of information for good.
“What units Wejo other than different knowledge suppliers working on this area is that Wejo has a much wider perspective about how, the place and when linked automobile knowledge may be utilized throughout a number of areas of the enterprise,” stated Matt Bialuk, senior vice chairman of Vendor and Insurance coverage Options at Wejo. “Our expertise in real-time visitors monitoring, edge processing and automobile actions permits us to see the larger image in order that we can assist organizations see the worth they will obtain by tapping into CVD.”
For extra details about Wejo, go to www.wejo.com.
Wejo Group Restricted is a world chief in cloud and software program analytics for linked, electrical, and autonomous automobiles, revolutionizing the best way we stay, work and journey by remodeling and decoding historic and real-time automobile knowledge. Wejo permits Good Mobility for GoodTM smarter mobility by organizing trillions of information factors collected from roughly 13 million automobiles and 76.7 billion journeys thus far, throughout a number of manufacturers, makes and fashions, after which standardizing and enhancing these streams of information on an unlimited scale. Wejo companions with moral, like-minded firms and organizations to show that knowledge into insights that unlock worth for shoppers. With essentially the most complete and trusted knowledge, data and intelligence, Wejo is creating a better, safer, extra sustainable world for all. Based in 2014, Wejo employs greater than 300 folks and has workplaces in Manchester, UK and in areas the place Wejo does enterprise all over the world. For extra data, go to: www.wejo.com or join with us on LinkedIn, Twitter, and Instagram.
This communication incorporates “forward-looking statements” throughout the which means of the “secure harbor” provisions of america Personal Securities Litigation Reform Act of 1995. For extra data, please observe this hyperlink: https://www.wejo.com/forward-looking-statements
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Ben Hohmann, Wejo
Antonio De Soto, Peppercomm on behalf of Wejo
Tahmin Clarke, Wejo
Idalia Rodriguez, Arbor Advisory Group on behalf of Wejo