AXA to use telematics to assess taxi fleet

AXA Hong Kong and Macau is working with Chung Shing Taxi and TaxiSafely to launch what it considers Hong Kong’s first Internet of Vehicles (IoV) project.

In this collaboration, 50 taxis from SynCab and Chung Shing Taxi will be the first to install TaxiSafely’s telematics device, equipped with high-sensitivity duo lens. This detection device provides real-time monitoring of road conditions, accurate detection of obstacles, and can advise taxi drivers on the high-risk precautions such as distance to the vehicle ahead, as well as tangent drive.

The insurer and taxi company shared that they will be reviewing the data on a regular basis to assess how the fleet preforms. Further, the data will help AXA determine the insurance premiums based on the actual driving performance of taxi fleet, the past underwriting and claims records to provide premium discounts to those taxi fleets with good driving records.

“AXA is deeply committed to fostering sustainability in Hong Kong. We are honoured to partner with Chung Shing Taxi and TaxiSafely to launch this innovative project, making a contribution to Hong Kong’s development of smart city and improvement of road safety. This brings to life AXA’s purpose – act for human progress by protecting what matters. Taxis play an important role in public transportation. We believe this partnership will benefit taxi drivers, passengers, all road users and also inspire other like-minded companies to join forces to improve overall road safety for the community.” – Sally Wan, Chief Executive Officer, AXA Greater China.

The telematics solution powered by TaxiSafely will collect and transmit the data through 4G to an encrypted cloud system and undergo big data analysis which tracks individual driver’s behavior and performance.