Leading Australian insurance group DKG launches new dynamic insurance offer for fleets using Greater Than's AI technology
· With over 50 years of experience, DKG Group (DKG) is one of Australia's only providers of behavior-based insurance combined with claims management solutions.
- DKG will launch Fuse Fleet, a dynamic insurance solution that rewards safe driving and enables accurate pricing of premiums.
- Fuse Fleet will utilize Greater Than's unique pattern AI technology to convert GPS data into crash probability insights.
Greater Than (GREAT: ST), the global provider of driver crash probability and climate impact intelligence, today announced a partnership with DKG, one of Australia's leading providers of innovative risk measured insurance solutions. DKG will launch Fuse Fleet, a behavior-based insurance solution that will revolutionize the Australian market, using Greater Than's unique pattern artificial intelligence (AI) technology.
"Our mission is to transform the way fleet operators manage risk by rewarding safe driving with our digital insurance offering for safer fleets and lower premiums," said Luke Kelly, Managing Director of DKG. "As a result of using Greater Than's AI technology, we can now provide fleet management companies, fleet operators, brokers and telematics partners with deeper risk insights including crash probability. These insights benefit fleets through risk mitigation and accurate, transparent insurance premiums."
The Australian fleet market consists of approximately 485,000 businesses operating around 3.9 million vehicles*. With no truly dynamic insurance offer currently tailored to their needs, Fuse Fleet aims to offer greater control to fleets and telematics partners.
Using Greater Than's AI, Fuse Fleet will uncover new layers of driving intelligence by connecting existing telematics data through an API. Thanks to its predictive capabilities, the AI will turn GPS data into a Crash Probability Score for every driver. Fuse Fleet will use the intelligence to provide fleets with insights about driving habits and recommendations to improve safety. Importantly, Fuse Fleet will utilize the risk insights to accurately price insurance premiums. To cement the customer offering, Fuse Fleet will deliver fully digitally enabled claims management solutions designed to maximize performance, minimize downtime and ultimately reduce the claims lifecycle.
"Our vision is to enable all users of GPS data to see the future and, in this partnership with DKG, we're delighted that our Crash Probability Score is facilitating a dynamic insurance offer that delivers road safety benefits and enables fair insurance pricing to the Australian market," said Johanna Forseke, Chief Business Officer at Greater Than. "With no additional technology required, telematics providers and their fleet customers can benefit from new risk insights to support safety goals as well as reduced insurance premiums for lower risk driving."
Fuse Fleet will launch across Australia in April 2023.
* ACA Research.