thinkrace is a professional wholesaler from China

Project's profile:

Insurance is one of Europe's largest insurers, one of the world's largest insurance and asset management groups. A Insurance Group was established in 1890 in Berlin, Germany and has a long history of 120 years.  It is one of companies in world top 500.


Project s background:

With the continuous development of the economy, the global car ownership as of the end of 2015 has reached 1.372 billion, is expected in 2020 the global car ownership will reach 1.8 billion, auto insurance market is expected to break through the scale of one trillion. Compared with the thriving market, the traditional auto insurance model has been overwhelmed, accounting for more than 70% of the auto insurance market share of auto insurance, the overall cost rate of up to 100.24%, the overall underwriting loss of over 1 billion USD;  nearly 9 percent operating auto insurance companies.

And UBI (User Behavior Insurance) car insurance has become a revival auto insurance market in the ascendant. The so-called UBI auto insurance is based on driving mileage and driving behavior insurance. It integrates the driving habits, driving technology, vehicle information and surrounding environment of the driver through the combination of the smartphone and the car network equipment, and establishes the multi-dimensional model of the human, the vehicle and the road (environment) to obtain the reasonable Of the car insurance pricing.

Relevant survey data show that 61% of respondents are willing to try UBI, if the direct acceptance of UBI insurance users 90% discount premium, then 72% of respondents are willing to try UBI, if you save 10% premium, 36% of respondents are willing to change the insurer. According to the relevant research institutions, by 2020 there will be 30% -40% of the owners to become UBI customers, nearly 3 trillion UBI auto insurance market in urgent need of further exploration.

 

Technical requirement:

As one of the world's leading integrated insurance and asset management companies, A Insurance Group has a deep experience in insurance business, covering all financial sectors, including life insurance and health insurance, property insurance and liability insurance, and therefore need to make up UBI product and service.

In terms of hardware, A Insurance requires a fully functional and stable OBD II product that accurately monitors the OBD data, engine data, driving data, behavior data, mileage data, fuel consumption data, etc. of the device for accurate acquisition More comprehensive data;

On the software aspect, mainly divided into two parts, one server-side, first is based on cloud computing and large data to establish a complete UBI data analysis platform and according to the different parameters of the weight of the analysis model, the collection of vehicles and Behavior data for accurate scoring and output; Second, the client, Allianz Insurance hopes to be developed according to UBI model easy to use monitoring platform and APP so that customers view vehicle status, driving behavior and a variety of safe operation.

 

Commercial requirement:

Time is gold, A insurance company require TT payment, 30% deposit, 70% balance payment before OBD II ship out, lead time is 30 working days.


Final solution provide by Thinkrace:

As a company with 10 years of experience in GPS and OBD II, we offer high quality products - the OBD II VT200 GPS tracker and VT200B car tracker.  Final solution provide by Thinkrace summary as below:

1. GPS OBDii tracker

We are not provide bluetooth or wifi OBDII because it is impossible to transmit data to backend server, that is no way to monitor and arming vehicle.

2. Battery version VT200B OBD II tracker

It is no way to know if the driver remove device or not without plug and remove alarm, we upgrade the chipset to VT200B equipped 140mAh lithium battery.

3. Firmware customization

Add IMSI number, VIN number, each trip package upload IMEI number, IMSI number and VIN number, it is easy for A insurance company to manage customers.

4. Enclosure is completely enclosed

Before sale, A insurance insert SIM card, close the cover shell, make sure end user can not open the device change SIM card, remove the OBDII to another vehicle.

5. Logo printing customization

Print A Insurance's OBD brand name on the enclosure.

6. Package customization

In order to save transportation costs, custom cartoon boxes, 100 units one carton but not individually packaged for quick customs clearance.

7. Local partner cooperation.  

In order to better provide localized service and support, we are cooperate with CarIQ Technology Co., Ltd.