Insurance Times Awards 2024: Greater Than’s AI offering can predict ‘crash probability and climate impact’

1. Why did you put yourselves forward for the Excellence in Technology – Technology Service Provider category?

Because we understand the challenges that the industry faces and we know the difference that the right technology can make to insurance companies.

Many insurance companies remain very traditional when it comes to technology, yet to deliver the products and solutions their customers want and need, they require as much relevant and actionable data as possible.

We’re proud to deliver a solution that can be integrated into insurance companies’ existing software platforms, that harmonises vast amounts of driving data to provide them with intelligence for pricing, risk mitigation, customer engagement and ESG management.

We see the huge benefits that our technology delivers to insurance companies, from the optimisation of their existing pricing models to the development of entirely new behaviour-based models that open new doors for them and have the potential to dramatically increase their customer base.

2. What do you think makes your entry stand out and why should you win the award?

Our technology is globally unique, using an innovative pattern profiling approach to understand driver risk and climate impact.

Our AI has been trained for 20 years, with real-life claims data, fuel and energy consumption from 106 countries and 1,600 cities. By analysing GPS data, we identify patterns in driving that we compare against our database of over seven billion driving profiles. This allows us to rapidly predict trip outcomes – specifically crash probability and climate impact.

Not only that, but our AI harmonises data from any source, location or vehicle type, meaning that insurance companies can quickly compare and identify trends and areas of risk across their portfolio.

This is valuable information for insurance companies and provides them with insights that enable faster decision making and targeted action.

3. What would winning this award mean to you and your firm?

It would reiterate to insurance companies the huge value of technology and highlight just how easy it is for them to obtain harmonised driving data for better business decisions.