German ICMIF member HUK-COBURG announced the launch of “Telematik Plus,” its new telematics insurance program for drivers of all ages. With more than 12 million insured vehicles, HUK-COBURG are Germany’s largest car insurers.
“Over the last few years, we’ve built an entire telematics infrastructure, thus laying the groundwork for the product we are now offering to everyone regardless of age,” said Dr. Jörg Rheinländer, member of HUK-COBURG’s board of directors. “We’ve invested a lot in technology and know-how relating to big data processing. Our new product builds upon the experience we have gained so far.”
Telematik Plus users will receive a 10% discount upfront, and then be able to save up to 30% at renewal depending on their driving style. Telematik Plus replaces the mutual insurer’s previous telematics offering for young drivers.
“We have found a reliable partner with great technological expertise in Cambridge Mobile Telematics (CMT)” said Klaus-Jürgen Heitmann, CEO of HUK-COBURG. “In cooperation with CMT, we have developed an attractive telematics solution for our customers which is secure and easy to use.” Since its first product launch in 2012, which helped establish the category of mobile usage-based insurance (UBI), CMT is today the world’s leading mobile telematics and analytics company. It aims to make the world’s roads safer using mobile sensing and IoT, AI, and behavioral science.
“Building on our successful DriveWell platform, we are delighted to bring our technology to advance engagement, risk modeling and driver safety to HUK’s customers via the Telematik Plus program,” said Dr. Hari Balakrishnan, founder and CTO of CMT.
Customers who enroll in Telematik Plus receive a free sensor which attaches to the inside of the windshield. With the DriveWell tag, driving data generated from the sensor is recorded and analyzed in combination with the Mein Auto customer app.
The app gives drivers specific feedback on their driving and updates them on their discount. In addition, drivers can request help after an accident or when their cars break down. Over time, HUK-COBURG also plans to expand its offering with additional value-added services.
With more than twelve million customers, HUK-COBURG is the large insurers for private households traditionally offering competitively priced products in the lines of motor insurance, liability/accident/property and legal expenses insurance as well as private health insurance, life insurance and private pension insurance. With a premium income of EUR 7.7 billion in 2018, they are among the ten largest German insurance groups. Their traditional focus is on motor insurance; although are also one of the largest providers of home contents and personal liability insurance on the market.
