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Introducing the world first “Pay Per Minute” Auto Insurance program

Anthony C.
By Anthony C. - 7/4/18 2:09 PM

MAIF is France 5th largest auto insurance company and 1st insurance company for institutions and public companies. Through its subsidiary Altima, it is very active in open innovation related to telematics and connected vehicles.

 

Altima chose DriveQuant driving analytics solution as their technology partner to launch the world first “pay per minute” insurance policy. Both companies are sharing a common vision of innovation and delivering value to drivers fast.

This new type of policy is ideal for people who are occasional drivers or have a spare car sitting on their driveway. Thanks to “Pay per Minute” auto insurance they won’t have to pay full premium ever again.

All they have to do is download the DriveQuant app on their smartphones and drop a bluetooth beacon, provided by the insurance company, in their glove compartment.

DriveQuant app syncs with the beacon to automatically detect trips and calculate cost based on real driving time, up to the minute...

 

Philippe Moulin, CEO at DriveQuant commented:

« DriveQuant and insurance companies are speaking the same language thanks to our deep mathematical and physics background. We have built a flexible solution to deploy on smartphone alone or synced with any type of device. Obviously we are very proud that our technology was chosen to power Altima innovative offer and honored to be part of this world premiere… We are perfectly aligned with our strategy of partnering with market leaders to leverage our unique expertise in driving analytics and offer value fast to the end user ».

 

Elodie Degorce, VP Marketing at Altima/MAIF commented:

« Our goal is to create new and innovative offers that solve the pain points between drivers and their insurance company. Today people are using their vehicle differently and with all the new mobility services at their disposal, we have to adapt to future change in our industry. For Altima, DriveQuant is much more than a technology provider. We felt part of the same team, driven by a common passion which is delivering value to our policy-holders ».

 

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