The world's first intelligent driving car insurance index model comes out, will bring four major changes

The difficulty in quantifying driving behavior has always been a real problem faced by the UBI auto insurance era. Nowadays, there is finally a solution to focus on smart and safe driving of big data in Hangzhou. Hangzhou has a good driving concept and proposed the ABI model concept.

At the 3rd World Internet Conference in Wuzhen held on November 15th, the industry witnessed the birth of the world's first intelligent driving vehicle risk index model (ABI) in China.

He Chongzhong, a CEO who drives well, said that the auto insurance index model was developed based on big data generated by the intelligent driving assistance system. The core algorithm optimizes the main evaluation dimensions such as driving habits, driving behavior and driving mode, and solves the two problems of difficult driving description and difficult quantitative evaluation.

Professor Zhu Xichan, director of the Institute of Automotive Safety Technology at Tongji University, said that this index model will bring four major changes: First, it can provide users with risk feedback and improve users' driving habits; second, they can guide car pricing. It can realize personalized premium pricing for users; thirdly, it can realize accurate classification of user risks, and form a clear data chart in the background; Fourth, it can provide driving diagnosis book for the driving behavior of the team, which can effectively control the driver's driving. Behavior, easy to improve the team.

According to reports, this model is dominated by good driving, and Land Insurance and Tongji University participate in joint development. This index model is referred to as ABI, which refers to UBI car insurance based on ADAS. The so-called ADAS refers to Advanced Driver Assistance Systems, and UBI refers to Usage Based Insurnce. It is reported that the model is based on the comprehensive analysis of data from multiple dimensions such as ADAS (Advanced Intelligent Driving Assistance System), driving concentration, travel environment, violation record, driver's three urgent (rapid turn, sudden braking, rapid acceleration) behavior. The azimuth reflects the driver's overall risk of driving, providing further decision-making judgments for smart safe driving and auto insurance models.

Professor Zhu Xichan believes that reducing the occurrence of traffic accidents is originally a gold mine, and it will have new business models. ADAS is facing a market of RMB 2 trillion. Using the ADAS cross-border insurance industry to create an ABI index model will create a new blue ocean with unprecedented opportunities.

For a long time, insurance companies have approved premiums based on factors of the car, but there is great irrationality. For example, premiums for high-end cars are generally much higher than those for low-end cars, but if high-end cars are only used for commuting, and low-end cars often run around the car, the driving risk of low-end car owners is far greater than that of high-end cars. Under this circumstance, the low-end car premium is far lower than that of the high-end car. Obviously, it is unfair and contrary to the original intention of insurance. With the roll-up of auto insurance fees, based on the number of times of insurance as a factor for the dynamic adjustment of premiums, it can only be supervised afterwards.

The "driving behavior analysis system" based on a variety of sensor fusions independently developed by the driving company, from the multi-dimensionality of people, vehicles and roads, realizes the function of scoring drivers according to the itinerary, daily and monthly, and can monitor from time to time. Driver's driving behavior. The index model of the driving company is based on this, through the big data analysis, it can identify the potential driving behavior risk and effectively improve the driver's driving behavior.

Good driving company through the analysis of the data of the last 12 months shows that the company's all ADAS (Intelligent Driver Assistance System) users' driving behavior scores are steadily increasing, with an average increase of about 22%. In the first year of the pilot, the driving behavior score increased by about 30% on average, and the driving behavior was found to be abnormal at the same time. Well, the driving company introduced that, up to the present, the two teams in the pilot project in the previous year (without installing the ADAS system) have a maturity rate of 41.58% and 91.48%, respectively. The average number of accidents per vehicle is 1.18 and 1.19, respectively. In the nearly one year after the ADAS system, both teams were out of danger, and the validity of the model was verified by data.

At this World Internet Conference, in addition to releasing the ABI index model, the well-driving company officially released the ABI-based driverless program. The company said that after the ABI index was proposed, driving can actually reach the driverless level 3 level through the landing partner, that is, conditional autopilot. After that, R&D will be carried out along the level 4 altitude autopilot and level 5 full autopilot, and the data will be the best guarantee for these two goals.

He Chongzhong said that China's huge population and car ownership can bring advantages to the test of unmanned data. After the high degree of autopilot and unmanned commercialization in 2030, China will be the world's largest market. The largest auto big data company in the future may be born in China. The layout of driving big data in big data will continue to lead the future development.

Well started driving in August 2014, led by He Chongzhong, a 863 expert from the Ministry of Science and Technology, and has a group of high-tech talents at home and abroad. Among them, national experts and Dr. Haigui account for 12% of the total number of teams. University graduates and above account for about 95% of the total number of employees, headquartered in Hangzhou, is the world's first to propose an ADAS-based UBI (ABI) automotive big data company, according to "ADAS, ABI, driverless + insurance finance" for long-term strategic layout, Now we have many world-leading core technologies such as artificial intelligence, cloud computing, driving behavior scoring model, ABI index model, etc., and strive to build the world's leading ADAS-based UBI car big data company.

Previously, I drove to ADAS to enter the UBI data field, and in January 2015 released a generation of intelligent driving assistance cloud terminal product “Nadogi ICIGO”. In 2016, after completing the A round of financing, the car was officially released on March 25th. Its second-generation ADAS product, "Nadog N2", has been further enhanced in terms of intelligence and security based on the first generation of products, adding pedestrian recognition (PD), driving records, remote video surveillance (RVM), Near-field search (NCL), one-click recording, and automatic collision alarm function. As of now, the company has been recognized by the capital market in just 8 months, and its valuation has doubled. Customers have spread all over the world. Russia's satellite navigation system GLONASS, global communications operator AT&T, US UBI field unicorn Navmii, multinational mobile phone camp Vodafone, multinational insurance group AXA, Huawei, PICC, Ping An, China Unicom, China Telecom and other well-known customers To achieve deep strategic cooperation, at present, the company is currently the only company in the world to enter the communication IoT platform, and the only one The ADAS system, which will participate in the ADAS pilot project of the Ministry of Industry and Information Technology and the Ministry of Communications, has been rigorously tested and has successfully entered many pre-installed car manufacturers.

In product planning and development, the driving products are in accordance with the car-level standards, using the latest generation of new materials and heat-dissipation technology, casting craftsmanship, and have obtained a series of certifications such as CQC, 3C, CTA, and no commission. Now they are in Shanghai. Shenzhen and Nanjing set up product research and development centers, stepped up the development of the dog N3 and other smart driving technologies, and will continue to lead the smart driving and UBI auto insurance industry.

At the American Internet of Vehicles Insurance Summit, Dubai GITEX IT Show and Japan, Vodafone, AXA, Toyota and Japan's first property insurance company MS&AD and many other well-known foreign companies are delighted with the ADAS-based UBI car big data that is driving well. Although foreign governments have been leading the domestic ADAS legislation for many years, people generally accept higher levels of ADAS, but for the first time, they have heard that ADAS and UBI cross-border, admire China’s original world-leading ideas and business models. Actively cooperate with good driving and open a new blue sea for car insurance.

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