Insurtechs and the global insurance industry
Bâloise and Motion-S are featured in the IBM Report "Friend or foe? Insurtechs and the global insurance industry" as an best practice example how insurances and insurtech companies can work together:
"Bâloise Assurances gamifies telematics to improve driving and lower premiums.
Because auto insurance can be an on-ramp to acquiring first-time customers, auto insurance ecosystems tend to lead in innovation. For example, Luxembourg-based insurer Bâloise Assurances is partnering with telematics startup Motion-S.
The Motion-S device-agnostic telematics platform receives driving data from multiple sources and measures exposure to risk using 17 measurable contributory factors. Beginning with the two companies’ “Game of Roads” 2015 marketing campaign, users could use an app to evaluate their driving, discover their scores, improve their weaknesses, win 24-hour events and collect achievement badges.
Game of Roads formed the basis for “GoodDrive,” launched in 2017, the first telematics-based insurance in Luxembourg offering substantially cheaper rates to less experienced drivers. The GoodDrive ecosystem has the potential to expand to other partners, such as fleet managers and organizations interested in driving education and safety."