CerebrumX uses Ford’s connected vehicle data, with customer consent, to help transform North American auto insurance as a service with usage-based insurance | Rare Techy

Using the CerebrumX platform, insurers can offer end-to-end usage-based insurance (UBI) programs with reduced time-to-market and a cost advantage for eligible 2020 model year or newer Fords and newer models. Lincoln vehicles

PRINCETON, NJ, November 14, 2022 /PRNewswire/ — CerebrumX Lab Inc., a data services and management platform for AI-driven cars. (CerebrumX) announced today that it is adding connected vehicle data to Ford to support its data base usage-based insurance (UBI)-as-a-Service model for insurers. This model offers faster and more cost-effective implementation of UBI programs using embedded telematics in eligible Ford and Lincoln connected vehicles.

Usage-based insurance (UBI) programs that use embedded connected vehicle systems offer more with customer approval accurate and reliable driving data, authorization of insurers reward safe driver behavior with the option to reduce a personalized premiums. For customers who opt-in, CerebrumX’s Advanced Deep Learning Platform (ADLP) collects and analyzes data directly from eligible Ford and Lincoln vehicles a driver ice vehicle score without additional hardware or applications. This score helps insurers better assess risk and create more accurate and personalized policies for their customers, such as Pay As You Drive (PAYD) and Pay How You Drive (PHYD), to support safe driving and optimize claims.

“When choosing usage-based insurance, Ford and Lincoln owners can be rewarded for their good driving habits with more personalized insurance offers,” said Amy Graham, Director of Services Marketing, Ford Motor Company. “The CerebrumX platform will provide Ford and Lincoln owners receive insurance benefits with their vehicle connectivity to help reduce the total cost of vehicle ownership.

The unique As a UBI service model works as one time solution making it easier for insurers to successfully launch UBI programs that bring together automotive data, AI-based scores and insights with handheld assistance to adhere to regulatory policies. CerebrumX accelerates the implementation of end-to-end services such as consent handling, driver score integration with existing generalized linear models (GLM), support for state registration services, driver coaching and UBI performance evaluation.

“With CerebrumX’s UBI-as-a-Service model based on AI-driven insights and accurate driver behavior, we aim to streamline the entire usage-based insurance distribution process, making it flexible and cost-effective,” he said. Sandip Ranjhan, CEO of CerebrumX. ” UBI Market in the next 5 years it will grow by nearly 30%. The addition of Ford and Lincoln vehicles for CerebrumX’s UBI-as-a-Service program help insurance providers expand coverage and coverage, resulting in better end-user adoption.

With access to more than 15 million vehicles and 800 million miles of driving data, CerebrumX’s unique AI-based platform accelerates the pace of change in the automotive industry towards a more sustainable and safer society. It works with insurers, actuaries and regulators North-America launch data-driven UBI programs that benefit the end consumer.

About CerebrumX Lab Inc.

CerebrumX (www.CerebrumX.ai) uses artificial intelligence to provide companies with reliable data and high-quality insights to drive innovation, optimize operations and make critical decisions using smart data. Our industry’s first ubiquitous data management platform is used across the edge and core network for our partners including OEMs, media, insurers, fleet companies and smart cities/municipalities. CerebrumX’s Advanced Deep Learning Platform (ADLP) securely collects and consolidates distributed data from our partners and other third-party applications and devices to enable the activation of connected vehicle data that has previously been underutilized at any significant level. an integrated automotive ecosystem. CerebrumX is headquartered in Princeton, NJUSA and with offices in North America, EMEA and APAC.

For more information, please contact us at https://cerebrumx.ai

About Ford Motor Company

Ford Motor Company (NYSE: F ) is a global company based in the United States Dearborn, Michigan, which is dedicated to creating a better world where every person has the freedom to move and realize their dreams. Ford+’s plan for growth and value creation combines existing strengths, new opportunities and ongoing relationships with customers to enrich their customer experience and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, commercial vehicles, vans and passenger cars and Lincoln luxury vehicles, but also connected services. In addition, Ford is creating leadership in mobility solutions, including self-driving technology, and offers financial services through Ford Motor Credit Company. Ford employs approximately 182,000 people worldwide. For more information about the company, its products and Ford Credit, visit corporate.ford.com.

Media contact:
CerebrumX
Priya JhaCerebrumX Labs Inc.
[email protected]

Ford
Marty GunsbergFord Motor Company
[email protected]

SOURCE CerebrumX Labs Inc.