Swiss Re’s telematics solution: fairer premiums, safer roads

Vehicles connected to the Internet of Things (IoT) open the door to UBI products that assess pricing based on when, where and how one drives. Swiss Re’s first telematics-based product, Coloride, uses a phone app to identify risky manoeuvres, speeding habits and phone usage while driving, and offers post-drive coaching when the trip is over. Over time, Coloride assigns a risk score to each driver that an insurer can use to calculate the UBI premium. By offering a financial incentive to cautious drivers and flagging risky behaviour, insurers encourage responsible driving, making roads safer for everyone.

Data flow in the Swiss Re IoT platform

1. GPS positions
2. Acceleration data
3. Weather conditions
4. Traffic conditions
5. Road conditions
6. Ambiance conditions