Allianz: its connected insurance offer is gaining popularity

Magazine Issue:

Stability versus profitability, the hard equation of emerging insurance markets [3]

Magazine date:

Mar 2017

In 2015, Allianz France marketed a motor insurance policy resting on the recording and sending of driving data measured by a control box connected to a smartphone. This product, named “Allianz Connected Driving” makes it possible to analyze driving parameters, thus better adapting the tariffs proposed.

Allianz Connected Driving has attracted 20 000 customers, with 500 new contracts now being underwritten every week. Consequently, by mid-November 2016, Allianz had stored data over 61 million kilometers of driven distance, that is, three times as many as its competitor Axa.

This data collection is essential as it provides better ways of assessing risks and accurately calculating tariffs for each policyholder.