SAN FRANCISCO, May 25, 2021 (GLOBE NEWSWIRE) -- As the pandemic has dramatically accelerated the need for innovation in the global motor insurance industry, leading insurer MiWay and mobility risk intelligence innovator, Zendrive, together with system integrator DSG, have entered into an agreement that places South Africa at the forefront of mobility innovation.
Idle cars have raised consumer demands for fairer motor insurance models that reflect their daily driving habits. Insurers and customers alike have been searching for better pricing models that improve insurers’ margins, while reducing customers’ costs. Meanwhile, emptier streets have exacerbated habits like speeding and distracted driving – making roads more dangerous and introducing bigger questions about the role motor insurers can play in creating safer roads for all.
MiWay has integrated with DSG and Zendrive to address these problems with a new business model and customer value proposition: MiWay Blink. Powered by Zendrive’s leading mobility risk intelligence platform, MiWay Blink is a first-of-its-kind, industry-leading mobile app that enables customers to receive comprehensive car insurance, submit claims and earn monthly *cashbacks — using only a smartphone.
“We’re thrilled to be working with DSG and Zendrive in bringing this cutting-edge motor insurance technology to South Africa,” said Head of MiWay Blink, Christiaan Steyn. “Zendrive’s advanced technology will help us set a new standard in the customer-first experiences that we pride ourselves on. With Zendrive’s technology embedded in our app, we can detect when a client has been involved in an accident which allows us to send emergency services to their location immediately. In severe accidents where a driver is badly injured and not able to call for help, this technology can be lifesaving,” he added.
The MiWay Blink App sets a new standard for how insurers accurately model and price risk, while introducing fairer pricing, powerful new safety benefits and exciting features like *cashbacks for motorists. Zendrive’s patented data and AI capabilities will help MiWay Blink lead South Africa in the global push for insurtech innovation.
“Digital, behavior-based insurance offerings are the future,” said Yaron Assabi, Founder & CEO of DSG. “We know that the insurance industry is experiencing a shift in customer preferences and expectations and that smart technology solutions can help set the pace of progress and respond to customer expectations. This relationship places South Africa at the cutting edge of the global motor insurance industry, representing the first step in an exciting future for South African motorists,” he added.
“As part of Santam — the largest insurer in South Africa with over 22% market share — MiWay is an industry leader when it comes to delivering fairer, more innovative motor insurance offerings,” said Jonathan Matus, Founder and CEO of Zendrive. “We’re delighted to be entrusted to power the MiWay Blink App and help MiWay deliver even more ways for customers to save money, while also making roads safer for everyone,” he concluded.
Zendrive is powered by the world’s largest and fastest-growing telematics data set, which has analyzed 185 billion miles of data to date—and scores driving characteristics using an industry-recognized algorithm, delivering feedback via smartphone apps for both individual and commercial fleet driving behaviors. The company’s AI platform enables mobile driving behavior tools capable of generating risk models 6 times more predictive than industry standards.
About DSG
Integrated Customer Experience Solution Architects, Digital Solutions Group, offer best of breed services in the Customer Experience, Cyber Security, Mobile Advertising, Personal Data Management and MVNE sectors. The business delivers exceptional integrated customer experiences on behalf of their clients. With 22 years of digital excellence, DSG also has an ethos of “Doing Something Great” which underpins all business ventures and market partnerships, to deliver exceptional, innovative services and solutions.
About Zendrive
Zendrive works to make roads safer with data and analytics. Winner of Frost & Sullivan’s 2019 Innovation Technology Award and powered by the world's largest telematics data set of more than 180 billion mobile driving miles, Zendrive uses AI and machine learning to improve driver safety and help insurers accelerate their digital transformation. World-class insurers rely on Zendrive to price risk in real-time, dramatically improving their combined ratios with cutting-edge offerings. Zendrive’s patented algorithms and precise insights help reduce collision risk by 49%, adding millions in revenue to industry-leading partners including Juno, Grupo Sura, and AXA XL. Zendrive was recognized as one of Fast Company’s Most Innovative Companies of 2018 and won the 2017 Best Startup in San Francisco award.
About MiWay Blink
MiWay Blink is an innovative new insurance offering, positioned in the digital insurance market. Simplicity, speed and convenience are its defining features. The product was built on the premise of trust and offers a quick sales process, online claims registration, and a streamlined admin process. The initial offering is built around a pay-for-what-you-drive concept, thus putting the power in the customer’s hand. MiWay Blink is a division of MiWay Insurance Limited, a reputed and licensed non-life insurer and financial services provider. Leveraging the strength of the MiWay brand and years of insurance experience allows MiWay to position MiWay Blink as a fresh, innovative and relevant insurance offering for life in 2021.
*Cashback forms part of the product at no additional cost. To qualify for cashback, a self-inspection must be done and your premium paid.
MiWay Blink is a division of MiWay Insurance Limited, a licensed non-life insurer and Financial Services Provider (FSP 33970). Ts & Cs apply.
Media Contact
Launchsquad for Zendrive
zendrive@launchsquad.com