Telematics in everyday life: a joint project of T-Systems Hungary and K&H Insurance

Telematics can help to decrease fuel consumption of passenger cars by 5-13 per cent quite soon, while in the long run it may improve driving morale, as well as make it possible to personalize your car insurance fees.

Telematics in everyday lifeDecreasing the number of accidents, saving on fuel consumption and improving driving morale are just a few of the main objectives K&H Insurance wishes to achieve by means of its telematics project, announced in cooperation with their technological partner, T-Systems Hungary at a press event held in Budapest. As part of the project, the company uses smart devices to collect data on drivers’ driving styles, potential driving habits that may lead to accidents, their cars’ overall technical conditions and average consumption. Based on the data collected, insurance policies may be personalized and drivers may even have to pay less.

Deputy-CEO, and Head of Non-life Affairs of K&H, Attila Kaszab said that “the projects puts the Internet of Things (IoT), i.e. a network of devices connected and communicating with each other at the service of traffic safety and insurance. IoT solutions have shown the greatest development in the area of the automotive industry worldwide”. He added that insurance companies apply telematics solutions mainly in Italy and the US. In the States, they apply the technology for decreasing insurance fees, especially among young drivers, while in Italy, the main purpose is to fight car theft. IT is a generally accepted goal everywhere to improve driving morale, as well as to prevent accidents and decrease fuel consumption.

Head of the Financial Institutions Business Unit of T-Systems Hungary, Balázs Rakovszky said: “acting as transformational partner, we strive to translate technology into everyday application and demonstrate by specific solutions how insurance companies can use the latest ICT developments to serve their customers. IoT-based telematics is an excellent example, as it is easy to use, it incorporates numerous different functions and makes driving a whole new experience.”

The telematics devices installed in the car send data through a SIM-card to a cloud-based database, which the insurance company can analyze. At the same time, drivers can also monitor their data through a mobile app or web interface.

K&H Insurance starts the telematics project with a test period, involving 200 drivers in the first phase, and 800 later.

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