CerebrumX Lab Inc., an AI-driven management and automotive data services platform, announced that it will be using Ford connected vehicle data to support its data-driven usage-based insurance (UBI)-as-a-service model for insurers. This new model offers fast and cost-effective implementation of UBI programs by using embedded telematics for the eligible Lincoln and Ford connected vehicles.
The usage-based insurance (UBI) programs using embedded connected vehicle systems, with the consent of the customer, provide accurate and reliable driving data, empowering insurers to reward safe driver behaviour with opportunities to decrease their personalized premiums.
For the customers that choose the Augmented Deep Learning Platform (ADLP) of CerebrumX collect and analyse data directly from the eligible Ford and Lincoln vehicles to produce a driver and a vehicle score with no additional hardware apps required.
Amy Graham, services marketing director at Ford Motor Company, said that by opting into usage-based insurance, owners of Lincoln and Ford can be rewarded for their good driving habits with some more personalized insurance offerings.
Amy Graham added that CerebrumX’s platform create more opportunities for Lincoln and Ford owners to achieve insurance benefits with vehicle connectivity to help decrease their total cost of vehicle ownership.
Sandip Ranjhan, CEO of CerebrumX, said that with the UBI-as-a-Service Model of CerebrumX, which is powered by insights and accurate driver behaviour powered by artificial intelligence technology, they aim to streamline the whole insurance rollout process, making it cost-effective and flexible.
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