Wejo and Ford announce partnership
In March, Verisk announced an agreement with Ford Motor Company to offer standardized, insurance-ready telematics data from connected Ford vehicles in Europe. Now, mobility data company Wejo is announcing a similar partnership where it will gain access to personalized connected vehicle data from Ford vehicles across Europe.
Wejo will make the data available upon drivers’ consent to insurance companies, which will be able to leverage the data to better understand driving behaviors, drive efficiencies, and minimize fraud. Some of the data points will include vehicle location, speed and mileage.
It’s worth mentioning that Wejo founder and CEO Richard Barlow recently said that usage-based insurance is becoming commoditized, and that his company is now focused on what it calls “end-to-end insurance,” referencing the use of telematics at the event of a claim.
“Providing actionable data insights to insurance providers is another example of how Wejo is expanding into additional markets and demonstrating new use cases for OEMs and insurance companies to monetize connected vehicle data for good. We will continue to work with partners like Ford and other vehicle OEMs to look beyond insurance to identify all the use cases for connected vehicle data.” – Richard Barlow, founder and CEO, Wejo.
“At Ford we believe in the power of harnessing connected vehicle data. Through the insights our vehicles and customers can provide us, with full consent, we are able to better understand driving behaviors and ultimately make the insurance experience a much more tailored and cost-effective experience for our customers. We want to continue to demonstrate how through connectivity we are able to help make the driving experience across Europe better.” – Graeme Stevens, manager, Third Party Enablement at Ford of Europe.
“What sets Wejo apart from other data suppliers working in this space is that Wejo has a much broader perspective about how, where and when connected vehicle data can be utilized across multiple areas of the business. Our experience in real-time traffic monitoring, edge processing and vehicle movements allows us to see the bigger picture so that we can help organizations see the value they can achieve by tapping into CVD.” – Matt Bialuk, SVP of Dealer and Insurance Solutions at Wejo.