Tokyo (SCCIJ) –The young technology company kasko2go from Zug, Switzerland, and Hitachi High-Tech are joining forces for an advanced project to improve road safety in Japan. In the first quarter of 2020, the Swiss and Japanese enterprise will begin a feasibility study based on kasko2go technology.
Lower insurance premium for safe drivers – a Swiss concept.
An algorithm and big data
This software will make it possible to calculate the probability of road accidents very accurately, based on parameters such as road type, congestion, weather conditions, and others. In the future, the aim is to warn drivers if they approach road sections where accidents repeatedly occur, for example, when factors such as wet roads, poor visibility, bends, and high traffic volume coincide.
Dimitri Wulich, COO of kasko2go, says: “After a year of intensive research, Hitachi High-Tech selected us as a partner to jointly develop technology for their road safety improvement project. We are especially proud that our algorithm is the relevant component of this joint solution. We are looking forward to the joint project with our Japanese colleagues.”
Awards for innovation
kasko2go is an innovative provider of insurance solutions that aims to promote a safe driving culture in society. With specially developed algorithms and telematic analysis of Pay-As-You-Drive and Pay-How-You-Drive models, kasko2go reduces insurance premiums by up to 50 percent. Safe drivers should be rewarded by paying less, no matter what nationality they are, because they all contribute to safer streets, says co-founder and CEO Genadi Man.
In 2012 the Swiss start-up began to analyze driving styles with the help of its GPS app. Since then, this random sample has covered 3 million drivers. Its app recorded 10 million kilometers, and 150,000 drivers tried its products. To the best of its knowledge, this would be the world’s most significant data set for the investigation of driving habits, the company says.
Appropriate partners
Last year, kasko2go introduced a revolutionary car insurance app in Switzerland together with its insurance partner Dextra, which calculates the premium according to personal driving behavior. The Zug-based company was founded in 2017 and employs about 60 people within the group – including many engineers, scientists, and insurance specialists.
The young Swiss company won the TDI LIVEFEST 2019 Europe Startup InsurTech Award. In November, the award for the most innovative digital insurance solution in Switzerland at the IG Broker Convention also went to kasko2go.
Hitachi High-Tech Corporation, headquartered in Tokyo, engages in activities in a broad range of fields, including the manufacture and sales of clinical analyzers, biotechnology products, analytical instruments, semiconductor manufacturing equipment, and analysis equipment.
It also provides high value-added solutions in the fields of social & industrial infrastructures and mobility. Hitachi High-Tech operates in 26 countries with more than 11,400 employees. Its revenues in the last financial year were 731.1 billion yen.
Text: SCCIJ with material of kasko2go; Photo: Pixabay CC0
