ITC DIA Europe

kasko2go: Increase motor portfolio profitability using alternative data and AI modeling

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Feb 1, 2024

When insurance companies have a better understanding of risk, it enables them to make more informed decisions on pricing and provide the best possible coverage for their clients. Kasko2go’s technology solution is tailored to empower insurance companies to curb financial losses and reduce claims payouts while fostering business growth and customer acquisition.

Kasko2go’s core expertise lies in leveraging cutting-edge AI models to perform comprehensive data analysis, collection, and refinement. The advantages of kasko2go’s technology solution for insurance firms are manifold, ranging from reduced loss ratios and reduced claims frequency to better risk prediction and tariff optimization. By embracing their AI-powered solution, insurance companies can transform operations, optimize profitability, and strengthen their market position. 

How it works

One of the strengths of kasko2go’s solution is their distinctive approach to data use and AI-driven modeling. They provide a wide range of alternative data, encompassing over 800 parameters, which many insurance companies find challenging to access. This allows for a deeper understanding of clients without the need for conventional devices. 

kasko2go’s AI modeling approach stands out for its transparency, offering higher accuracy in risk assessment. This clarity is particularly beneficial for actuarial and underwriting departments, as it enables them to understand personal risks more precisely. Kasko2go’s platform is tailored to the insurance sector, combining advanced data collection with actuarial consultancy. This dual capability ensures a comprehensive approach to risk calculation and management. 

Kasko2go’s AI-based model helps insurers to: 

  • Improve claims frequency predictions: By analyzing a broader and more complex set of data points, kasko2go’s AI model can more accurately predict the frequency of claims, allowing for better planning and reserve allocation. 
  • Optimize the quoting process: kasko2go’s solution streamlines the quoting process, making it faster and more precise, thanks to the model’s ability to quickly assess risk and generate accurate quotes. 
  • Increase pricing accuracy: The AI model offers a more nuanced understanding of risk, leading to more accurate pricing of insurance policies, so that premiums can be more closely aligned with the actual risk posed by a policyholder. 
  • Enhance marketing initiatives: By better understanding the risk profile of potential customers, marketing efforts can be more targeted and effective, reaching the right customers with the most suitable offers. 

Kasko2go’s solution is particularly relevant for actuarial and underwriting teams. At its core, it is a risk assessment tool that aims to evaluate the risk of potential policyholders more precisely. This approach ensures that those with a higher likelihood of causing a loss for the company are charged appropriately for their insurance coverage.

Why we selected kasko2go for ITC DIA Europe

Kasko2go’s AI-based risk analysis helps its customers to improve portfolio performance. Their solution stands out by using data-driven approaches, and real-time risk assessment models. It involves leveraging data augmentation, statistical analysis, and machine learning to achieve more precise risk models, accurate predictions, efficient operations, and fair assessment and pricing practices.

At ITC DIA Europe Munich, kasko2go presented their new AI-based user Lifetime Value-assessment module. This module marks a shift from the traditional, subjective approach to a more objective, data-driven method of evaluating customer value.

Who is kasko2go?

Established in 2017 and headquartered in Switzerland and Israel, kasko2go is an insurtech company specializing in the risk assessment of policyholders.  

Kasko2go’s journey began in the telematic insurance and usage-based insurance (UBI) market, where they sought to redefine the landscape with innovative solutions. In 2020, they recognized that the future of car insurance lies in accurate risk assessment, and as a result, and shifted their focus to creating a cutting-edge system for this purpose.

“Our mission at kasko2go is to revolutionize the motor insurance industry for our clients. We leverage cutting-edge AI technology to provide insurance solutions that are fair, transparent, and tailored to each client’s unique needs.”

Arina Man, CEO, kasko2go
Amsterdam 12-13 June

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