Gathr Case Studies Real-time Driver Profiling & Risk Assessment For usage-based Insurance with Gathr

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	Real-time Driver Profiling & Risk Assessment For usage-based Insurance with Gathr Gathr

Real-time Driver Profiling & Risk Assessment For usage-based Insurance with Gathr

Gathr

Technology Category	Analytics & Modeling - Machine Learning Analytics & Modeling - Real Time Analytics
Applicable Industries	Automotive
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Predictive Maintenance Usage-Based Insurance Vehicle Telematics
Services	Data Science Services
Challenge	The auto insurance industry is increasingly investing in connected car solutions to offer simplified, transparent, and flexible products and pricing options. Usage-based insurance is a voluntary, behavior-based insurance program that uses analytics to create highly personalized and dynamic plans based not only on the driver’s age and other demographics, but also accounts for the driver’s behavior, risks related to a vehicle, and external factors such as driving conditions and weather. A leading auto insurance provider chose Gathr to ingest, transform, enrich, analyze and store automotive telematics data in real-time to build an end-to-end analytics application for driver profiling & individual risk assessment, and subsequently offer dynamic, usage-based, plans to its customers. Read More
About Customer	The customer is a leading auto insurance provider. To keep up with the new digital consumer and remain competitive, the company is increasingly investing in connected car solutions. The company uses a telematics device to capture and transmit vehicle performance, usage, and driver behavior data from various sensors in the car. The company chose Gathr to ingest, transform, enrich, analyze and store automotive telematics data in real-time to build an end-to-end analytics application for driver profiling & individual risk assessment, and subsequently offer dynamic, usage-based, plans to its customers. Read More
Solution	The solution involves real-time ingestion of telematics and sensor data using an AWS IoT gateway. The device captures data points such as driver behavior, vehicle sensor data, and usage data. In-memory data transformation, data blending, and data enrichment are performed as driver behavior, usage, and vehicle data arrives. The ingestion and enrichment stages provide a rich array of key attributes needed for the predictive machine learning models running on Apache Spark. These stages assess and predict individual risk scores. Classifying drivers as safe or risky and quantifying risk scores are based on current driving behavior, historical behavior, and supplemental data flows such as usage data, geographic location, vehicle type, vehicle performance, and third-party data. The application creates alerts to flag risks based on altered behavior patterns as well as anomalies in vehicle performance. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Machine Learning

Analytics & Modeling - Real Time Analytics

Applicable Industries

Automotive

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Predictive Maintenance

Usage-Based Insurance

Vehicle Telematics

Services

Data Science Services

Challenge

The auto insurance industry is increasingly investing in connected car solutions to offer simplified, transparent, and flexible products and pricing options. Usage-based insurance is a voluntary, behavior-based insurance program that uses analytics to create highly personalized and dynamic plans based not only on the driver’s age and other demographics, but also accounts for the driver’s behavior, risks related to a vehicle, and external factors such as driving conditions and weather. A leading auto insurance provider chose Gathr to ingest, transform, enrich, analyze and store automotive telematics data in real-time to build an end-to-end analytics application for driver profiling & individual risk assessment, and subsequently offer dynamic, usage-based, plans to its customers.

About Customer

The customer is a leading auto insurance provider. To keep up with the new digital consumer and remain competitive, the company is increasingly investing in connected car solutions. The company uses a telematics device to capture and transmit vehicle performance, usage, and driver behavior data from various sensors in the car. The company chose Gathr to ingest, transform, enrich, analyze and store automotive telematics data in real-time to build an end-to-end analytics application for driver profiling & individual risk assessment, and subsequently offer dynamic, usage-based, plans to its customers.

Solution

The solution involves real-time ingestion of telematics and sensor data using an AWS IoT gateway. The device captures data points such as driver behavior, vehicle sensor data, and usage data. In-memory data transformation, data blending, and data enrichment are performed as driver behavior, usage, and vehicle data arrives. The ingestion and enrichment stages provide a rich array of key attributes needed for the predictive machine learning models running on Apache Spark. These stages assess and predict individual risk scores. Classifying drivers as safe or risky and quantifying risk scores are based on current driving behavior, historical behavior, and supplemental data flows such as usage data, geographic location, vehicle type, vehicle performance, and third-party data. The application creates alerts to flag risks based on altered behavior patterns as well as anomalies in vehicle performance.

Impact #1	An end-to-end, real-time analytics application for driver profiling & risk assessment to enable personalized, usage-based insurance plans
Impact #2	Through driver profiling and individual risk scores, the auto insurer is now offering data-driven, and highly personalized, insurance policies and pricing plans
Impact #3	The insurance giant is now also offering predictive maintenance services that prevent vehicle breakdowns and repairs

Impact #1

An end-to-end, real-time analytics application for driver profiling & risk assessment to enable personalized, usage-based insurance plans

Impact #2

Through driver profiling and individual risk scores, the auto insurer is now offering data-driven, and highly personalized, insurance policies and pricing plans

Impact #3

The insurance giant is now also offering predictive maintenance services that prevent vehicle breakdowns and repairs

Benefit #1	Highly personalized premium pricing options are based on individual scores, vehicle type and make, and geography
Benefit #2	Increased customer loyalty and claims reduction from value-added services
Benefit #3	Customers can also easily track their own driving behavior and vehicle performance in real-time and take corrective action that can affect their insurance premiums

Benefit #1

Highly personalized premium pricing options are based on individual scores, vehicle type and make, and geography

Benefit #2

Increased customer loyalty and claims reduction from value-added services

Benefit #3

Customers can also easily track their own driving behavior and vehicle performance in real-time and take corrective action that can affect their insurance premiums

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Overview

Real-time Driver Profiling & Risk Assessment For usage-based Insurance with Gathr

Operational Impact

Quantitative Benefit