CerebrumX to Use Ford Related Automobile Information, with Buyer Consent, to Assist Remodel Auto Insurance coverage in North America with Utilization-Primarily based Insurance coverage as-a-Service

Utilizing the CerebrumX platform, Insurers can provide end-to-end usage-based insurance coverage (UBI) packages with a diminished time to market and value benefit for eligible 2020 mannequin yr or newer Ford and Lincoln autos

PRINCETON, N.J., Nov. 14, 2022 /PRNewswire/ — CerebrumX Lab Inc. (CerebrumX), an AI-driven automotive knowledge providers & administration platform, introduced immediately it can incorporate Ford linked car knowledge to assist its data-driven usage-based insurance coverage (UBI)-as-a-Service  mannequin for Insurers. This mannequin presents a faster and less expensive implementation of UBI packages through the use of embedded telematics for eligible Ford and Lincoln linked autos.

Utilization-based insurance coverage (UBI) packages utilizing embedded linked car techniques, with the consent of the client, present extra correct and dependable driving knowledge, empowering insurers to reward protected driver behaviour with alternatives for diminished personalised premiums. For patrons that opt-in, CerebrumX’s Augmented Deep Studying Platform (ADLP) collects and analyses knowledge straight from eligible Ford and Lincoln autos to generate a driver and a car rating with no extra {hardware} or apps required. This rating helps insurers higher assess danger, and construct extra correct, personalised insurance policies for his or her clients, resembling Pay As You Drive (PAYD) and Pay How You Drive (PHYD), to assist protected driving and optimize loss claims.

“By opting into usage-based insurance coverage, Ford and Lincoln homeowners could be rewarded for his or her good driving habits with extra personalised insurance coverage choices,” stated Amy Graham, Providers Advertising Director at Ford Motor Firm. “CerebrumX’s platform creates one other alternative for Ford and Lincoln homeowners to attain insurance coverage advantages with their car’s connectivity to assist scale back their whole price of auto possession.”

The distinctive UBI-as-a-Service mannequin acts as a one-stop resolution making it simpler for insurers to efficiently launch UBI packages that bundle automotive knowledge, AI-powered scores, and insights with handheld help in adherence to regulatory insurance policies. CerebrumX accelerates the implementation of end-to-end providers resembling Consent dealing with, Integration of the Driver Rating with present Generalized Linear Fashions (GLM), State Submitting Providers Assist, driver teaching, and UBI Efficiency Analysis.

“With CerebrumX’s UBI-as-a-Service Mannequin, powered by AI-driven insights and correct driver behaviour, we goal to streamline the complete usage-based insurance coverage rollout course of making it versatile and cost-effective,” stated Sandip Ranjhan, Chief Govt Officer, CerebrumX. “The UBI market is ready to develop by almost 30% within the subsequent 5 years. The addition of Ford and Lincoln autos to CerebrumX’s UBI-as-a-Service program will assist Insurance coverage suppliers prolong protection and scale, leading to higher adoption by the tip client.”

With entry to greater than 15 million autos and 800 million miles of driving knowledge, CerebrumX’s distinctive AI-based platform is accelerating the tempo of change within the automotive sector towards a extra sustainable and safer society. It really works with insurers, actuaries, and regulatory our bodies throughout North America to launch knowledge pushed UBI packages that profit the tip client.  

About CerebrumX Lab Inc.

CerebrumX (www.CerebrumX.ai) makes use of synthetic intelligence to ship trusted knowledge and high-quality insights to companies to drive innovation, optimize operations and drive key selections utilizing good knowledge. Our business’s first ubiquitous knowledge administration platform is utilized throughout the Edge and Core Community to our companions together with (OEMs, Media, Insurers, Fleet Corporations and Sensible Cities/Municipalities). CerebrumX’s Augmented Deep Studying Platform (ADLP) securely collects and consolidates scattered knowledge from our companions and different third-party apps and units to allow the activation of linked car knowledge that has beforehand been underneath -utilized to any important stage because of the absence of an built-in Automotive Ecosystem. CerebrumX is headquartered in Princeton, NJ, USA and with workplaces throughout NA, EMEA and APAC.

Join with us for extra data, https://cerebrumx.ai

About Ford Motor Firm

Ford Motor Firm (NYSE: F) is a world firm primarily based in Dearborn, Michigan, that’s dedicated to serving to construct a greater world, the place each particular person is free to maneuver and pursue their goals. The corporate’s Ford+ plan for progress and worth creation combines present strengths, new capabilities and always-on relationships with clients to complement experiences for and deepen the loyalty of these clients. Ford develops and delivers progressive, must-have Ford vehicles, sport utility autos, business vans and vehicles and Lincoln luxurious autos, in addition to linked providers. Moreover, Ford is establishing management positions in mobility options, together with self-driving expertise, and supplies monetary providers via Ford Motor Credit score Firm. Ford employs about 182,000 folks worldwide. Extra details about the corporate, its merchandise and Ford Credit score is obtainable at company.ford.com.

Media Contact:
CerebrumX
Priya Jha, CerebrumX Labs Inc.
[email protected] 

Ford
Marty Gunsberg, Ford Motor Firm
[email protected] 

SOURCE CerebrumX Labs Inc.

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