Express Computer
Home  »  News  »  Tech Mahindra brings Telematics platform for the insurance sector

Tech Mahindra brings Telematics platform for the insurance sector

0 497

IT firm Tech Mahindra today announced the launch of Usage Based Insurance (UBI), a big data and predictive analysis driven platform for auto insurers. It allows them to adjust premiums according to actual usage patterns of individual drivers instead of industry averages. The platform is flexible to fit to the growing needs of global insurance enterprises, where the market is expected to grow $100 billion plus by the end of the decade.

The solution utilises the capabilities of Tech Mahindra and AT&T in the areas of multi-vertical, engineering and infrastructure capabilities. As a result of this, the global insurers can reduce their claim costs by up to 20%, while reducing eligible insured driver premiums up to 40%. This UBI solution is hosted on the seamless AT&T cloud and served through AT&T’s global Machine-to-Machine (M2M) capabilities.

The initial launch encompasses two products, UBI Lite and UBI Plus. UBI Plus offers a big data driven approach that takes into account real time physical world data to provide accurate information.

“Global insurers and reinsurers are increasingly looking towards telematics-based insurance products in the pursuit of competitive and differentiated offerings in the marketplace. Tech Mahindra’s UBI solution can assure substantial and continuous cost savings through process efficiencies. Through our connected solutions, we deliver high quality services to our financial services clients,” said Ravi Vasantraj, Head– BFSI, Tech Mahindra.

Tech Mahindra’s Digital Enterprise Services (DES) unit is offering this solution . It is deployable and pilot ready and also is extensible with context based and social domain features for the next gen insurers. With its presence in more than 51 countries and global connectivity from AT&T, Tech Mahindra is presenting its telematics-driven smart and cost efficient solution for UBI for both personal and commercial auto insurance players across the globe.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image