OPES, a digital-only insurance coverage agency, has joined forces with IMS to supply app-based telematics insurance coverage options in Vietnam.
The brand new providing, referred to as “O.Automobile”, was launched earlier this month and is aimed on the nation’s round three million automotive drivers.
In keeping with IMS CEO Paul Stacy, the insurance coverage providing would be the first wholly digital, telematics-based auto insurance coverage resolution in Vietnam.
O∙Automobile leverages the IMS One App SDK and IMS Wedge, a patented know-how, to establish the insured’s car.
The know-how can also be used to guage driving type and the info is leveraged to supply bespoke insurance coverage options to OPES prospects.
OPES, a subsidiary of Vietnam Prosperity Joint-Inventory Industrial Financial institution (VPBank), may also use IMS’ know-how to supply completely different companies comparable to ‘try-before-you-buy’ performance and a behavioural-based rewards programme.
Stacy stated: “We have now been working with OPES and their mum or dad VPBank to trial the app amongst their very own workers and prospects. As a result of the site visitors in Vietnam is very congested and slow-moving, the IMS analytics staff needed to develop a complete new driver behaviour scoring system that’s distinctive to the Vietnamese market.
“Having developed the method for Vietnam, we predict one thing very related will apply to different Southeast Asian markets the place site visitors stream could be very completely different from the West.”
The companies are additionally working collectively to launch a milage-based insurance coverage resolution in future.
OPES CEO Dang Hoang Tung stated: “This can be a groundbreaking alternative for telematics-motor insurance coverage in Vietnam and we’re very excited to be pioneering the brand new OPES insurance coverage app in partnership with IMS after a profitable trial.”