DriveX partners with Estonia’s leading insurance broker IIZI

The AI-assisted vehicle verification solution developed by the Estonian technology company DriveX has been implemented by the largest insurance brokerage company in the Baltics – IIZI, which belongs to the GrECo Group. With DriveX, vehicles can be photographed and automatically verified, saving customers’ and employees’ time and money.

We are pleased to cooperate with the leading insurance brokerage company in the Baltics whose impressive sales volumes of comprehensive policies required more efficient processes. Earlier, the insurer was sent instructions on how to take a picture of the vehicle and the sales employee checked the pictures. From now on, the customer is assisted by an web app that gives the user instructions and feedback through computer vision on whether the images are suitable. The images are no longer checked by an employee, but by DriveX Core — an AI that automates the process. All in all, the customer wins, because the purchase process of the comprehensive policy is faster and you can start driving without any worries, “commented Rauno Sigur, co-founder and CEO of DriveX.

Satisfied customers are the cornerstone of every company, which is why the main thing for IIZI is to provide quality service, and we also highly value customer feedback to improve services,” said Igor Fedotov, CEO of IIZI Insurance Broker. He added that customers increasingly appreciate the content of insurance and the convenience of the service provided. The company constantly invests in innovation, which is why it differs significantly from other insurance service providers in the market.

We are still considered a start-up because innovation is a normal part of our culture,” says Fedotov. Over the last six months, IIZI has come up with various unique solutions. The CEO of IIZI adds that it is not reasonable to make all the solutions in-house, which is why it is important to cooperate with experts in their field, such as DriveX, who provide a convenient service to improve customer experience.

DriveX Technologies is a technology company founded in 2019 by Rauno Sigur, Kentti Koppel and Valter Läll. The company, which raised money from well-known business angels at the end of 2020, already cooperates with several leading insurance companies, including ERGO, BTA and Gjensidige.

IIZI Kindlustusmaakler AS is the leading insurance brokerage company in Estonia. More than 150,000 private customers and nearly 25,000 business customers are served annually. Since 2018, IIZI Kindlustusmaakler has been a company of AS GrECo Group. IIZI Group AS employs over 150 people.

6 out of 10 customers would change their insurer to have a more digital experience

6 out of 10 clients would change their insurance company to have a more digital experience. The 73% would opt for an insurer that uses AI to process claims faster. These are the main conclusions of the international survey conducted by Solera among more than 1,500 consumers and 500 insurers.

The survey reveals how important it is for insurers, workshops, and distribution networks of original equipment manufacturers (OEMs) to adopt AI and incorporate it into their businesses. Something that will be essential for these companies in the short term, since, according to the Solera survey, more than 70% of consumers prefer automated management for a matter of trust.

In addition, most have previous experience in the use of technology in car claims and repairs, as 56% have already sent a part online and 51% have used digital technology to check the status of the file. All this as a result of the irruption of the ‘millennials’ in this sector, totally familiar with the new information technologies.

The pandemic makes technology crucial

Before the arrival of Covid-19, the use of cutting-edge technologies, especially those that avoided contact between people, was considered one more complement. Now, in many cases, it is crucial that companies provide customers with contactless interactions.

If we consider the pandemic as the driver of digital transformation, the main catalysts for vehicle insurers have been growth strategies (36%), employee safety and teleworking (34%), and the demand for digital experiences by part of customers (33%).

“This survey highlights something that Solera has known for a long time: automated processes have the potential to increase customer satisfaction and even promote customer loyalty,” explains Evan Davies, Solera’s chief technology officer.

DriveX partnered with Gjensidige insurance

Gjensidige Estonia director Denis Nikolajev (left) and DriveX founder Rauno Sigur. Photo: Tanel Meos

Estonian insurtech DriveX partnered up with Gjensidige, a market leader in the Nordic and Baltic markets. The innovative vehicle verification application will be used first in Estonia to the improve motor insurance sales process and customer journey.

DriveX offers digital and automated vehicle verification software which allows people to send a review of their vehicle to their insurer, without leaving their home. As a result, consumers and employees save time and money.

According to DriveX’s CEO and founder Rauno Sigur the insurance sector is revamping customer experience. “Companies have understood that the new generation of consumers already expect modern solutions. Key words are digital, personal and user centric — all of those three are strongly supported by being data-driven and automating. Gjensidige’s Estonian branch is a role model in the group — let’s show together, what are the results with a capable technology partner,” he added. DriveX’s web app is available on Gjensidige’s homepage, as it is integrated in the online purchase process.

Denis Nikolajev, Gjensidige Estonia’s branch director commented that the new solution is attractive primarily thanks to its usability. “We noticed how DriveX has implemented technology to assist users and after that we were convinced. With machine learning and near real-time image processing, our customer receives feedback whether the image was correct or not. The successful outcome is meaningful and high quality data that is received by our employees. As a result, we can activate the motor insurance policy much quicker than we were able to beforehand,” he commented.

Gjensidige’s goal is to offer services that are customer friendly and convenient in the Nordics and Baltics. “Claim management processes are definitely the next stage in which automation will improve the customer experience even further,” told Nikolajev.

DriveX Technologies is an Estonian technology company, founded by Rauno Sigur, Kentti Koppel and Valter Läll. The company has recently announced partnerships with ERGO and Carglass, raised capital from Estonian unicorn-background angel investors and is expanding to foreign markets in 2021.

Gjensidige is the second largest Nordic and Baltic insurance group listed on the Oslo stock-exchange. The company headquarters is located in Norway and insurance services are offered in Norway, Denmark, Sweden and Baltics. The insurance business was founded in 1816, offering services for more than two centuries and employing more than 3700 people.

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