Liberty General Insurance Bhd (Liberty) has formed a strategic partnership with Auto Data Technology Sdn Bhd (Auto Data Technology), formerly known as Netstar Solutions Sdn Bhd, to transform the automotive insurance industry through the integration of advanced data analytics and IoT technologies (IoT).
This collaboration marks a significant step forward in adopting Usage-Based Insurance (UBI), a model that leverages real-time data to provide more personalised and accurate insurance solutions.
As the automotive industry continues to evolve with connected vehicles and smart technologies, the partnership between Auto Data Technology and Liberty aims to harness the power of big data analytics and IoT to offer customers more tailored insurance products.
Through the use of real-time data collection, including driving behaviour, mileage, and vehicle health, this collaboration enables a more accurate assessment of risk, leading to fairer premiums and more proactive customer engagement.
“Partnering with Liberty represents a pivotal moment for Auto Data Technology as we push the boundaries of what’s possible in automotive insurance,” said Dipankar Mitra, Chief Executive Officer of Auto Data Technology.
“Our data-driven approach is set to redefine how insurance companies assess risk and engage with their customers, paving the way for a more personalised and efficient insurance experience,” he added.
Puneet Pasricha (Pasha), CEO of Liberty General Insurance Berhad, said, “This partnership empowers us to provide our customers with more tailored and dynamic insurance solutions, reflecting their individual needs and driving behaviours.
By integrating advanced data analytics and real-time insights, we can elevate our service offerings and ensure that our solutions are not only personalised but also responsive to the evolving automotive landscape.”
Auto Data Technology cutting-edge platform will enable Liberty to engage with customers in a more personalised manner. By providing insights into driving habits and vehicle usage, customers will have the opportunity to make informed decisions about their coverage. This proactive approach not only enhances customer satisfaction but also fosters a deeper understanding of the benefits of safe driving practices.
The integration of big data analytics into Liberty’s operations will result in more precise risk assessments. By analysing vast amounts of data from connected vehicles, the partnership will allow for the development of more accurate risk profiles.
This will lead to more competitive pricing and better-managed risks, ultimately benefiting both the insurer and the insured.
To read more about Auto Data Technology and Liberty General Insurance, please visit www.autodatatechnologies.com and www.libertyinsurance.com.my.
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