TomTom to Enable Loop’s AI-Primarily based Automobile Insurance policies
TomTom’s maps and targeted visitors info will assist Loop’s mission for fairer priced car insurance coverage costs
TomTom to Enable Loop’s AI-Dependent Vehicle Insurance
TomTom to Enable Loop’s AI-Based mostly Automobile Insurance coverage
AMSTERDAM, The Netherlands, July 14, 2021 (Globe NEWSWIRE) — TomTom (TOM2), the mapmaker and spot engineering professional, and Loop, the local community-driven automobile insurance provider, currently introduced a new multiyear agreement. TomTom will supply Loop with its velocity profiles, website traffic stats and maps to assistance Loop buyers make safer driving possibilities and obtain insurance policy rates that are based mostly on good, bias-totally free requirements.
Loop will use TomTom’s maps and website traffic details to much better understand driver habits and road risk, which is the foundation of the company’s pricing design. Relatively than depend on a driver’s credit rating and other monetary proxies these kinds of as homeownership and educational attainment, this AI-pushed technique will help Loop to build fairer and much more clear vehicle coverage prices. TomTom’s maps and traffic data will also permit Loop’s synthetic intelligence product or service to monitor driving actions in genuine time and provide recommendations for safer driving, even rerouting drivers absent from roadways that are high-chance for motor vehicle mishaps.
“Loop is a great case in point of the innovative techniques our technological know-how can be applied to assistance condition safer mobility, which speaks to the core of TomTom,” claimed Anders Truelsen, Running Director of TomTom Business. “We applaud Loop’s approach to using locale information to get rid of bias from vehicle insurance policy pricing.”
“We are psyched to introduce a a great deal additional present day and dynamic way to assess danger in the car insurance policy field,” stated Ali Salhi, Main Technological innovation Officer at Loop. “TomTom’s maps and extensive locale info help Loop to underwrite and charge danger with pinpoint precision that’s hardly ever before been found in private-passenger auto insurance.”
“TomTom is a sturdy lover for us provided their top-quality mapping capabilities, assortment of products and APIs, and real commitment to innovation,” explained Carey Anne Nadeau, Cofounder and Co-CEO at Loop.
About TomTom:
At TomTom we’re mapmakers, offering area engineering for motorists, carmakers, enterprises and developers.
Our extremely accurate maps, navigation software package, true-time targeted traffic information and APIs permit smart mobility on a global scale, producing the streets safer, the push less difficult and the air cleaner.
Headquartered in Amsterdam with offices in 30 nations, TomTom’s systems are trusted by hundreds of tens of millions of motorists, corporations and governments throughout the world.
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