Blog | MotorDNA

Revolutionizing Insurance Analytics: Motordna

30 May, 2023 Share:

Introduction:

In the rapidly evolving auto insurance world, data is the key to unlocking competitive advantages and staying ahead of the curve. However, accessing accurate and comprehensive vehicle build data has proven to be a significant challenge for insurance carriers. That's where MotorDNA, the leading insurtech company, steps in with its game-changing solution. MotorDNA provides analytics-ready vehicle build data, known as build sheet or Monroney Sticker level data, at the granular unit level, empowering insurance carriers with unparalleled insights and improving their decision-making process.

Unleashing the Power of Granular Vehicle Build Data:

Traditional solutions in the market fall short when providing comprehensive and affordable vehicle build data. They either rely on costly options or offer coverage only at the make, model, and trim level, missing the crucial unit-level details. MotorDNA bridges this gap by acquiring data directly from original equipment manufacturers (OEMs) and delivering it to insurance carriers at an accessible price point.

Harnessing the Granularity Advantage:

By providing data at the unit level, MotorDNA opens up a world of possibilities for insurance carriers. They can now analyze each vehicle's unique specifications, including equipment packages, optional features, and manufacturing variations, enabling them to make more accurate risk assessments and underwriting decisions. This level of granularity is a game-changer, offering a competitive edge that was previously unattainable.

Unlocking Untapped Potential:

One of the critical differentiators of MotorDNA is its ability to license insurance carriers with usage rights to the data across the enterprise. Unlike major data players who may lack the necessary usage rights for all potential use cases, MotorDNA ensures that carriers can utilize the data across their entire value chain. This unlocks untapped potential, allowing insurance carriers to leverage the data for pricing, claims management, risk modeling, claims, fraud detection, and customer segmentation, among other critical areas. Seamless

Integration and Enhanced Efficiency:

MotorDNA understands the value of a seamless user experience. The platform is designed to integrate effortlessly with existing insurance systems and workflows, minimizing disruption and optimizing efficiency. The data is normalized and delivered programmatically via API, allowing carriers to extract insights and act upon them swiftly and efficiently. This level of integration eliminates the need for complex and costly internal data processes, saving valuable time and resources.

Real-World Data Validates the Value of Vehicle Build Data:
The importance of granular vehicle build data is further underscored by real-world data and research conducted by esteemed organizations such as the Insurance Institute for Highway Safety (IIHS) and the Highway Loss Data Institute (HLDI).

For example:

Automatic Emergency Braking (AEB) contributes to a remarkable 50% reduction in front-to-rear crashes.
Backing crashes are reduced by an impressive 78% when vehicles are equipped with rear automatic braking.

Partnership for Success:

At MotorDNA, we believe in the power of collaboration. We forge strong partnerships with insurance carriers, working closely with them to understand their needs and challenges. Our team of experts provides ongoing support and guidance, ensuring that carriers maximize the benefits of our data solution. Working together can redefine the insurance landscape and drive industry-wide innovation.

Conclusion:

In the era of data-driven decision-making, MotorDNA emerges as a leading force, revolutionizing insurance analytics. By providing affordable, granular, and comprehensive vehicle build data at the unit level, we empower insurance carriers to make more accurate risk assessments, streamline their processes, and unlock untapped potential. With MotorDNA as their strategic partner, insurance carriers can confidently embrace the future and drive tremendous success in a rapidly changing industry.