Voyomotive and CerebrumX announce joint venture for new UBI/Insurtech solutions
Telematics service provider Voyomotive and automotive data management platform CerebrumX announced a partnership to develop new applications for the automotive usage-based insurance (UBI) sector. The combined benefit of this approach will be new dynamic pricing models for Pay As You Drive (PAYD) and Manage How You Drive (MHYD) policies while providing real-time insights that increase driving safety.
Voyomotive works with B2C and B2B solution developers that require real time access to embedded vehicle data. Based on the company’s line of plug and play aftermarket controllers and cloud-based algorithms, Voyomotive provides information parameters on vehicle health, driver behavior and weather conditions.
“Standard metrics such as vehicle speed and hard braking are useful indicators for UBI, but only provide limited insights on driving safety. The Voyomotive platform reports relevant data that is typically unavailable for UBI such as seat belt use, activation of safety systems and real time detection of vehicle malfunctions. When used with CerebrumX’s platform, this data provides a much broader view of overall safety conditions enabling real time, dynamic pricing while incentivizing safer driving.” – CEO of Voyomotive, Peter Yorke.
CerebrumX with its relationships with automotive OEM and aftermarket solution providers like Voyomotive, using its Augmented Deep Learning Platform (ADLP), works with B2B solutions providers to offer a wide range of automotive data-based models and solutions. CerebrumX’s ADLP augments the connected car data with other contextual data to build advanced self-learning models for vehicle health and driver behavior that are core to UBI.
“CerebrumX is extremely happy to provide an end-to-end UBI solution with Voyomotive. This solution is especially powerful in its adaptability and flexibility in these uncertain times when driving behaviors have changed radically from month to month owing to the pandemic and work-related automotive usage.” – Chief Product Officer and Co-founder of CerebrumX, Amit Gupta.
