Pay-per-minute auto insurance: 

mobile-based connected insurance

Partner: Altima by MAIF
Country: France
Industry: Insurance
Year: 2018
Assurance à la minute - DriveQuant

Challenge


Subsidiary of the MAIF group (5th largest French insurer), Altima acts as a strategic laboratory for the mutual company. It designs disruptive insurance offers that meet the personalised needs of policyholders, adapted to new uses. 

In response to the growth of the 'infrequent travelers' market segment, Altima's objective was to launch a new insurance program to insure these drivers travelling a limited number of kilometers per year, partly based on the real time spent driving.


Solution


It was therefore natural for Altima to turn to DriveQuant, the ideal partner capable of providing the services and technology necessary to create a connected insurance product with a very short time-to-market. DriveQuant was thus able to develop a mobile white-label application in just a few months (4), which automatically detects the journeys made and adjusts the cost of insurance to the real driving time (i.e. minutes spent driving and coverage of the vehicle while stationary). 

The principle is quite simple: the policyholder logs in the application called "Car insurance by the minute" ("Assurance à la minute"), and places the small Bluetooth device (Beacon) in the glove compartment of his vehicle. From then on, he can drive with complete peace of mind since all journeys are automatically detected without any action on his part via his smartphone. 

Then the policyholder can follow the details of all his trips on his smartphone, day by day, and see the costs associated with each of them. Each month, he pays the fixed rate that covers his parked vehicle, plus the variable amount corresponding to his actual driving time.

Results

Altima by MAIF, pioneer in car insurance by the minute

This program is the world first Pay Per Minute auto insurance.

100% smartphone-based connected car insurance

The cost of deploying the solution is very low, since it is based on smartphone telematics, powered by DriveQuant.

Two trophies at the French 2018 Insurance Awards

Altima was distinguished twice: Customer's choice for best product award (Winner), and Professional's choice for best product and service (runner-up).

Florent Villain

Marketing Director Groupe MAIF & General Manager ALTIMA

Groupe MAIF

We are delighted to have chosen DriveQuant as our technology partner for our connected insurance solutions. Their smartphone telematics services for driving analysis are easy to integrate. They have enabled us to accelerate the launch of a personalised insurance offer on the market that meets the new uses of mobility.

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