Using data driven solutions, Auto Data and General Insurance will redefine insurance
Liberty General Insurance Berhad (Liberty) is excited to unveil a strategic partnership with Auto Data Technology Sdn Bhd, previously known as Netstar Solutions Sdn Bhd. This collaboration aims to revolutionise the automotive insurance industry by integrating cutting-edge data analytics and Internet of Things (IoT) technologies.
The partnership represents a significant advancement in the adoption of Usage-Based Insurance (UBI), which utilises real-time data to deliver more personalised and precise insurance solutions. As the automotive sector evolves with the advent of connected vehicles and smart technologies, the alliance between Auto Data Technology and Liberty seeks to harness the power of big data and IoT.
Moreover, this collaboration will enable the creation of insurance products that are tailored to individual needs through the collection and analysis of real-time data. Key metrics such as driving behaviour, mileage, and vehicle health will be monitored to provide a more accurate risk assessment, resulting in fairer premiums and proactive customer engagement.
Dipankar Mitra, CEO of Auto Data Technology, commented on the partnership, stating, “This collaboration with Liberty represents a pivotal moment in our efforts to push the boundaries of automotive insurance. Our data-driven methodology is set to redefine risk assessment and customer interaction, leading to a more personalised and efficient insurance experience.”
Puneet Pasricha (Pasha), CEO of Liberty General Insurance Berhad, echoed this sentiment, saying, “Our partnership with Auto Data Technology allows us to offer insurance solutions that are more dynamic and tailored to individual driving behaviours. By integrating advanced data analytics and real-time insights, we aim to enhance our service offerings, ensuring that our solutions are both personalised and responsive to the changing automotive landscape.”
On top of that, the innovative platform developed by Auto Data Technology will enable Liberty to engage with customers on a more personalised level. By analysing driving habits and vehicle usage, customers will gain valuable insights that can guide their coverage decisions. This proactive approach not only improves customer satisfaction but also educates drivers on the benefits of safe driving practices.
The incorporation of big data analytics into Liberty’s operations will lead to more accurate risk assessments. By analysing extensive data from connected vehicles, this partnership will create detailed risk profiles, resulting in more competitive pricing and better risk management. Ultimately, this will benefit both the insurer and the insured by delivering more precise and equitable insurance solutions.
