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Personalised Insurance Products & Data Platforms

The new mileage based insurance product category, or Pay As You Drive (PAYD) as it is often called, has started growing rapidly in the recent months, thanks to the host of advantages it offers the driver. As we are moving into an ever digitalised world the new personalised products will be able to provide some much-needed consumer flexibility in terms of commitment and driving time, and boast lower premiums for short-term or temporary users in comparison to more traditional offerings. In this post we’d like to look a bit more closely at what could a standardised car API offer for the app developer.

Benefits for PAYD of accessing car data

Scalable access to car data

By integrating with the car data API instead of using a OBD2 dongle, your PAYD insurance service can be certain of the accuracy of the data you are working with. Unlike with an aftermarket hardware solution, with a car data API data is captured by the customers’ vehicles and made available to authorised independent service providers. Your users can access your service simply via an internet connection and no longer have to worry about hardware installations.

Gamify driving behaviour

Gamification in the automotive industry is an upward trend, with numerous car makers and third party services taking advantage of the principles of gamification and digital enhancement to motivate customers and increase engagement. When customers are having fun with an app or service, and being rewarded for it, their loyalty to the brand naturally increases.
Whether you choose to use explicit gamification - designed to appeal to the user’s sense of fun, or implicit gamification - whereby a customer’s motivation is more subtly increased, gamification of any kind can be an effective tool for encouraging good driver behaviour. One example might be allowing drivers to compare themselves with other drivers on the road. This gives them the opportunity to see ways in which their driving can be improved, which would lower their premiums and increase the general safety of all road users.

Single integration works cross-OEM

Your PAYD application can access data from multiple carmakers’ vehicles with a single API from a car data platform such as High Mobility. Thanks to this integration, you the developer no longer need to make separate requests to each car maker, or take on different contracts. You will also no longer need to perform multiple technical integrations to match different interfaces, saving you a significant amount of time both now and in the future. Your data contract would be solely with High Mobility, and the integration with a single API will ensure your application is compatible with these vehicles. This ensures your product can work with many more customers, broadening your market appeal.

Consent flow is built into the platform

Customer consent is a prerequisite of the High Mobility platform which is in itself designed to simplify the consent retrieval for all parties involved. As part of our development kit the consent flow is provided to the developer.

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