Modern insurance companies are changing the way they charge their customers. Insurers that can demonstrate new and differentiated value to individuals, businesses, and communities around the world will seize that potential and prepare themselves for success on the industry’s next frontier. To this end, the new business models of “Pay As You Drive” and “Pay How You are Drive” are gaining ground in the market.
NAVARCHOS is a perfect solution for either the “Pay As You Drive” or the “Pay How You are Drive” business models.
- For the “Pay As You Drive” business model, NAVARCHOS platform provides real-time monitoring of fuel consumption, distance covered, and travel time based on which thedriver behavior and performance are analyzed and presented in visually appealing charts and descriptive reports.
- For the “Pay How You are Drive” business model NAVARCHOS driving safety assessment algorithm provides a robust and accurate algorithm for classifying drivers according to their driving safety behavior.
For both scenarios, an ultra-small, plug-n-play GPS module is offered by NAVARCHOS which overcomes the common limitations and difficulties with installation and data accuracy problems even in the vehicles with limited space.