Automotive data company CerebrumX is planning to incorporate connected vehicle data from Ford Motor Company to support its data-driven usage-based insurance (UBI)-as-a-Service model for Insurers.
For customers that opt-in, CerebrumX’s platform collects and analyses data directly from eligible Ford and Lincoln vehicles to generate a driver and a vehicle score with no additional hardware or apps required.
This score helps insurers better assess risk, and build more accurate, personalized policies for their customers, such as Pay As You Drive (PAYD) and Pay How You Drive (PHYD), to support safe driving and optimize loss claims.
“By opting into usage-based insurance, Ford and Lincoln owners can be rewarded for their good driving habits with more personalized insurance offerings. CerebrumX’s platform creates another opportunity for Ford and Lincoln owners to achieve insurance benefits with their vehicle’s connectivity to help reduce their total cost of vehicle ownership.” – Amy Graham, Services Marketing Director at Ford Motor Company.
The UBI-as-a-Service model acts as a one-stop solution making it easier for insurers to successfully launch UBI programs that bundle automotive data, AI-powered scores, and insights with handheld assistance in adherence to regulatory policies.
CerebrumX accelerates the implementation of end-to-end services such as Consent handling, Integration of the Driver Score with existing Generalized Linear Models (GLM), State Filing Services Support, driver coaching, and UBI Performance Evaluation.
by Peter Sonner
