Contact person: Anna Kościuczuk
Email address: [email protected]
Contact number: +48 727 020 217
The Digital Insurer Insurance Innovation Award
Brief innovation summary
PZU GO. Seconds can save your life.
With almost 2800 fatal road accidents annually, Poland is at the far end of the EU. While the emergency services call for the importance of ‘platinum 10 minutes’, it takes on average 15 to arrive at the scene of an accident. From April 2018, all new cars will be equipped with eCall, the automatic 112 dialer. In Poland, however, the average age of a vehicle is over 10 years.
PZU GO pioneers European market with a tiny, battery-powered beacon that can be self-installed on the windshield of every car. Leveraging on the state-of-the-art sensors and advanced reasoning algorithms, PZU GO detects accidents and notifies PZU Alarm Room who contacts the driver. If the call is received, PZU renders concierge and assistance services. If not, PZU calls for an emergency.
PZU GO will ultimately become an integrated driver's ecosystem with loyalty program in place and UBI offering for those who would like to share their driving behavior data with PZU.
PZU GO is developed in co-operation with a leading telematics service provider and a top technical university.
Watch our video on: https://www.youtube.com/watch?v=gIodCozZ9xw
Your innovation at a glance
Designed to fit with the on-board IoT architecture, PZU GO is a driver’s ecosystem based on a 4-years’ battery-powered wireless beacon which is embedded with a Bluetooth Low Energy module and paired with the PZU mobile app. PZU GO collects data from all available sensors, including accelerometer, GPS, GNSS, magnetometer, proximity sensor, gyroscope, barometerand processes it instantly through machine learning algorithms developed by the best data scientists. The data is transformed into break-through intelligence delivered in real-time to PZU.
The reason behind
PZU’s ambition is to solve the social problems which were stated in EU Road Safety Guidelines which aim to cut European road deaths by 50% by 2020. While the deployment of eCall targets at all new cars homologated after April 2018, PZU GO takes care of all drivers and passengers, while taking into account that - according to ACEA - the average car age in EU is over 10 years.
In addition, PZU believes that PZU GO would be a powerful platform to promote UBI services for those who would like to share their driving behavior data. PZU believes that its value proposition would be a game-changing approach among countries with relatively low average motor premium and thereby limited space for either up-front discounts or costly telematics solutions.
While there are some ‘Smartphone as a Sensor’ deployments across Europe, PZU GO is
a disruptive ‘Smartphone Tethered’ solution that goes beyond existing low-accuracy sensor-technologies and leverages on a unique value proposition that addresses EU-wide road-safety challenges. The true revolution comes with advanced reasoning algorithms that - upon driver’s consent – provide high-fidelity detection of driving events, including crash detection and distracted driving (i.e. using phone while driving), which becomes the leading cause of road accidents. Finally, unlike the easily removable OBD and 12V plug solutions, the novelty of the self-installed beacon is its permanent mounting to the windscreen which allows for promotion of PZU brand in previously unattainable ways, followed by a range of benefits, such as the parking-permit sticker.
While PZU Group is the largest financial institution in CEE, PZU GO is a cornerstone of the recently-announced #newPZU strategy that puts breakthrough technological solutions at the heart of its customer-centric and data-driven operating model.
To PZU’s best knowledge, PZU is the first insurance company in Europe to offer a self-installed wireless beacon with crash detection functionalities together with dedicated telematics App to customers.
After revealing PZU GO hundreds of customers showed strong interest regarding PZU’s innovation. PZU aims to offer the solution to its over 6 million motor insurance customers. PZU ambition is to disrupt the market by pioneering easy-to-use Connected Insurance technologies that both promote road safety and reshape driver experience through more frequent and better quality interactions. PZU assumes to benefit from the first-mover market advantage and therefore gain a long-term competitive edge with its one-third P&C market share in Poland. In addition, PZU envisages several quantitative results of PZU GO deployment, including profitability increase through more accurate risk pricing, reduced claims frequency and claims handling costs; as well as revenue increase through customer acquisition, retention and up-selling.