PAY HOW YOU DRIVE
Description
The SPITS platform provides an open platform for services from different value suppliers to operate and coexist. The ‘Insure how you drive’ and ‘Pay how you drive’ applications demonstrate this by showcasing applications demonstrate this by showcasing applications that both support car drivers to adopt a safe driving style. Parameters such as distance driven and driving speed determine the insurance premium discount.
Objectives
Instead of basing insurance premiums on a vehicle's make and model, the age of driver, their experience and history on the road, PHYD assess premiums based upon time of usage, driving behavior and places driven to.
Inputs
-
Embedded telematics (SPITS chipset)
-
CMD dongle to interface with CAN bus
-
Mobile communication technology for long range
Benefits
-
Access to rewards such as premium discounts or access to partner benefits
-
Demonstrate safe driving habits following an accident
-
Correct risk misclassifications and fight fraudulent claims
-
Enhance pricing accuracy
-
Reduce accident frequency and severity
-
Track and recover stolen vehicles
Pay how you drive
Developed by
Project Status
Communication Protocol
TomTom, Logica, TU Delft
Demonstrated
Celullar Communications (4G LTE, HSDPA)
Project Outcomes
The product with a working HMI and model has been demonstrated for use. Currently it’s in use in a small scale in the logistics sector.
Limitations
-
Requires an OBU to interface with CAN BUS data. Some insurers can charge device maintenance costs over insurance premium
-
The application may not be able to identify whether the insured owner is driving the car or not
-
Consumers could raise concerns about data sharing given that the application requires sensitive information like billing and personal data
-
Insurers could look for ways to hike premiums, such as charging more for driving during peak rush hour or late at night
Scorecard
I'm a paragraph. Click here to add your own text and edit me. It's easy.
Refer to “Evaluation” for details on scoring.