For decades, traditional auto insurance has determined premiums based on fixed factors like age, location, and vehicle type. While this method provides a general risk assessment, it overlooks the most crucial element—how a person actually drives. This often results in unfair pricing, where safe drivers end up paying just as much as riskier ones.
That’s where Usage-Based Insurance (UBI) comes in. Powered by AI and telematics, UBI introduces a smarter, fairer way to calculate premiums, tailoring them to individual driving habits rather than broad statistical categories.
At Manifold, our advanced AI and data aggregation platform helps insurers:
• Personalize policies with behavior-based pricing – Telematics data ensures rates reflect actual driving habits.
• Automate claims processing – AI-powered first notice of loss (FNOL) detection speeds up claims resolution.
• Enhance fraud detection – AI analytics identify inconsistencies in reported incidents, reducing fraudulent claims.
Leverage AI and telematics to offer fair, flexible insurance pricing. Book a demo today!