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Amodo currently offers its platform in three formats - a smartphone-based app, OBD device and as a stand-alone black box, but it's the smartphone app that's the most interesting right now, not least because it's free and doesn't require any additional hardware or connectivity.
Mirko Markov, head of marketing at Amodo, explains:
"Our goal was to create a platform that insurers could use to better understand the risk exposure of clients, and also to use the new platform as a communications channel that enables them to interact with their customers on a level they weren't able to before. It gives our clients a platform to innovate their own products. They understand their customers much better than they have in the past, and it enables them to change the products and pricing models based on specific clients and locations."
In order to do that, Amodo had to create an app that could help companies to understand the context behind driving decisions.
"It meant we need to understand how people use their phones and not only their cars," says Mirko.
"What we do is incentivise in different ways to encourage people to be more active with the app, which in turn encourages them to share more smartphone and GPS data. This gets sent to our platform, which then uses our partnership with HERE to understand the context, road geometry and speed limits, along with some proprietary information that our clients may request, such as historical accident black spots or places where traffic is very dense. All of this plays a part in a system that produces a score representing the customer's safety level.
In order to incentivise people to use Amodo, the app offers a similar experience to fitness tracking apps, only this time it's aimed at car owners and drivers.
Amodo wants to make mundane trips more engaging, with offers to save money or just catch the driver's attention, and as a result Amodo's clients can tailor their products and offer insurance, car maintenance and other services to customers for less money.
"One of the engagement mechanics that we have comes in the form of a series of challenges," Mirko explains, "where our clients can segment their customers into different groups and organise competitions between them. This is often between car types, age groups, location and so on. One group that every client comes to is men versus women, the age old problem of who drives better, and I can say that in all of the countries where this competition is run, women always win."
There are three key reasons behind Amodo's choice of HERE technology, says Mirko, with global reach being a major factor. "Although we're a small company based in Croatia, all of our clients and business is outside of Croatia. There are clients based in Singapore, Hong Kong, Brazil, South Africa, Germany and Austria, which means if we were to go with a local map provider it would incur additional work from outside to integrate. Working with a global company like HERE means that all our demo apps and all our implementations can rely on one partner, one set of APIs and one set of rules and dependencies that we can base our entire system on."
Mirko highlights the quality of HERE data as a second key factor, giving Amodo confidence that our data across multiple countries and locations is consistent. "HERE also offer certain parameters that we’re not even using yet in our system," adds Mirko. "But it's there to use when we're ready, and we can call this partnership future proof - we know that many of our client requests can be solved with the HERE platform."
Finally, and one of the most important points according to Mirko, is the HERE road-matching algorithm. "Since we are getting data from a smartphone app, our data is initially rather noisy. By using the road-matching extension we are able to translate road GPS routes and data with an actual trip mapped to an actual road; for us this is super important as all our subsequent analysis is actually based on the quality of this feature."
Amodo may be a platform that's tailor made for insurance companies, but the company also has clients that are from other industries, including automakers and telecommunications companies.
Mirko highlights a new partnership with Porsche as an example, which uses the Amodo platform slightly differently. Porsche is more interested in how its own products - cars - are being used after the initial sale. While most manufacturers lose track of how a car is being treated, servicing is a large source of revenue, and by better understanding how cars are being used, Porsche can provide better servicing offers and packages to customers.
The Amodo platform can also help drivers to change their behaviour, leading to safer driving and fewer accidents, and Mirko concludes:
"One thing we've noticed with clients that have used the system for over a year, is that if you approach their customers systematically, and you understand what's possible and relevant for them, we see results of a significant and permanent reduction in dangerous driving, which for lots of our clients means fewer claims (in some cases up to 60 per cent). The prerequisite is that the user is engaged with the system and open to change; if we find what works and what reaches the customer, we know we can reduce risky behaviour to a minimum."
image credit: ssguy