Amodo Brings Usage-Based Insurance to Businesses Using SAP® Solutions
Europe, US, July 2021 – Amodo announced at the SAP Industry Analyst Base Camp that through its partnership with SAP it will deliver usage-based insurance (UBI) to businesses using SAP® solutions. Amodo technology innovations have global recognition, traction, and acceptance, positioning the company as one of the leading UBI solution providers. More than 40 UBI-related projects implemented during the last 7 years set Amodo as the most active and experienced company in the European UBI space. Recognized by Financial Times, Amodo was chosen as one of the top 5 insurtech companies globally, and Frost and Sullivan reconfirmed Amodo’s position by awarding the company’s excellence in 2021.
“With pleasure, we observed how Amodo’s relationship with SAP has evolved over the years to reach the mature stage that it enjoys today. We are excited about our joint value proposition and the extent of benefits and disruption that it brings to the global insurance market,” says Marijan Mumdziev, CEO, Amodo.
The partnership enables businesses that use SAP solutions in more than 180 countries around the globe to integrate and offer UBI telematics solutions to their end-users. With the support of Amodo technology, companies gain access to a leading telematics platform that allows them to provide their users with new usage-based models like Pay as You Drive and Pay How You Drive, among others. These models give users the opportunity to receive pricing that is suitable for them while being insured every step of the way.
Amodo is a partner in the SAP PartnerEdge program. As such, it is empowered to build, market, and sell software applications that supplement and build on SAP software and technology. The SAP PartnerEdge program provides the enablement tools, benefits, and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract.
Amodo is an insurtech company on a mission to disrupt the insurance industry. By turning users’ smartphones into powerful telematics sensors, the Amodo connected insurance platform enables insurers to deliver tailor-made products by gathering and contextualizing behavioral data. With its advanced technology, Amodo allows drivers to adjust the insurance cost to their driving habits, with the help of their smartphones. By offering new insurance models like Pay How You Drive and Pay As You Drive, Amodo sets new insurance telematics standards followed by insurance companies globally, including P&V, AIG, Porsche, and BNP Paribas. For more information, visit www.amodo.eu.
*Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.
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