How tigerlab helped UBICar to transform the car insurance in Australia
UBICar Case Study
Our team at tigerlab is excited to share one of our most advanced telematics based launches of the year! What is telematics you ask? Good question! Telematics is a great innovation in car insurance that allows the calculation of Insurance Premiums to be based on driving behaviours. It’s a thrilling new development in the industry and the future of all vehicle Insurance.
UBICar is a product of the UBI group of technologies from Australia and its an exceptional car Insurance product built on Usage Based Insurance. The technology comprises of mobile telematics, IoT, machine learning and mobile sensing that will help improve driving behaviour by reducing at-risk speeding, phone distractions, hard braking and other problematic driving behaviours that contribute to unsafe driving.
Through the use of mobile telematic factors like vehicle used and driver usage measured against time, distance, behavior and place.Telematics pricing algorithms are then placed to provide competitive premiums that are updated every month instead of annually.
For its innovative and one of its kind product with great usability UBICar is nominated currently for the “Best Mobile App Startup: The most user friendly app that has disrupted their industry” by Australian organization and event “Australian Startup Awards 2018”
The way tigerlab’s i2go solution enabled all of these together
It seemed impossible for technology to fit a highly complex functionality, yet be made accessible, convenient and addictive to their consumers. First, allow me to explain tigerlab’s client experience philosophy; “Keeping our clients’ technology ahead of their competition”. Following this, i2go was architected for their software in an “API-Driven” manner. For those non-technical readers, this means that i2go is able to communicate with other softwares easily!
Now, back to where we were, since i2go is the core application surrounded by many other external application, it was important that the integrations worked seamlessly. End users should not be able to tell that information is being retrieved from other softwares. Here are the list of i2go modules that tigerlab provided to make UBICar’s dream a reality.
The system works through a mobile app that records and rates driver’s behavior behind the wheels, this then gives them a telematics score. The telematics score is then used in i2go’s rating engine which customizes a premium for potential customers. To do this tigerlab provided the client with a powerful CRM system that combines the following features:
- Policy management
- Monthly Repricing of Premiums depending on updated scores
- Lead and customer management
- Reports and Analytics
- Rating Engine
- Vouchers and Discounts
- Customer Service Portal CSP
- Third-party API integrations (e.g. Rego Number Plate Lookup, Glass Guide or vehicle lookup)
Through the use of APIs, we connected these modules together coupled with UBICar’s advance pricing structure, with different taxation requirement in Australian states, giving UBICar a huge technological advantage through efficiency, effectiveness and specialization.
Furthermore, tigerlab had to work very closely with two additional vendors who have developed the app interface. This proved to be a small hurdle to overcome mainly because these vendors were not in the same timezone as Kuala Lumpur. This hurdle did not hinder the project, but only made tigerlab stronger; with the development of a cross timezone project management framework.
Our client UBI-Car was struggling for over six months with their vendor (with rating) to have their visions turned into reality before we finally found each other. The same pricing structure and logics that they were stuck with was successfully implemented by tigerlab within two weeks. Happy with the outcome, UBIcar is already selling policies now but it took two weeks for them jumpstart as people got familiarized with the telematics idea.
To ensure our promise to the client not only did we receive the client at our office in Malaysia but also sent a team of four to UBI in Sydney. These meetings helped us finalize the sales wizards and other complex functionality and details. Our team also met with the App vendor, supporting them with implementing and ensuring that the standardization of data that was being communicated between both systems accurately.
This is just the Beginning for tigerlab!
Seems like a rather long beginning, but that was just phase one of the vision that we envisioned. There are a lot of demands in different regions for a similar technology, which would eventually become a market disruptor. One great advantage of our API driven technology is scalability, to meet huge market demands. We right now have the backbone of this technology, and we are able to white label this technology efficiently.