(Image credit: Joey Cyber, Unsplash.)
The vendor says that Google Cloud’s auto insurance customers can now more accurately price insurance policies at time of quote by using driving behavior history. By having access to this data, Arity adds, insurers are able to increase pricing sophistication, improve profitability, and grow their book of business.
With access to the Arity IQSM network in Google Cloud’s Analytics Hub, insurance carriers can do the following, according to Arity:
- Enhance owned datasets with comprehensive driving behavior data through Arity’s Drivesight Score or specific driving attributes within Google Cloud’s privacy-safe environment.
- Analyze and segment customers at time of quote to increase pricing sophistication.
- Deliver personalized experiences with more accurate quotes to customers at new and renewed business.
“We’re excited to bring the Arity IQSM network to Google Cloud’s insurance customers,” comments Gary Hallgren, President, Arity. “We’re not only expanding the reach of one of the world’s largest driving behavior databases tied to claims, but we’re helping insurers price more competitively at time of quote.”
Privacy Forward Methods
Arity reports that it uses privacy forward methods for secure and safe data storage, including encrypting data at rest and in transit and by making the data available within Google Cloud’s Analytics Hub, carriers can access the data in a privacy-safe environment.
“Google Cloud Analytics Hub provides Arity’s customers with an efficient, secure platform to exchange data and combine their business data with third-party insights,” comments Yolande Piazza, VP, Financial Services, Google Cloud. “With the addition of the Arity IQSM network, our insurance customers can increase value for their business while providing more accurate prices based on how their customers behave behind the wheel.”