Award Applications

Amodo offers the Auto Insurance industry a customized telematics platform which collects data from smartphones and on board devices, to build holistic customer profiles based on advanced driving behavior analytics. Using our technology Insurers possess a digital acquisition tool which delivers insights into product needs, increases customer engagement and reduces risk by rewarding safe driving, thus delivering incremental portfolio growth.

Amodo used two pillars to feed our Product Need Analysis System. One: behavior analysis and Two: customer engagement. With this approach, we understand who and when to target, and most importantly, with what kind of insurance products. We’ve found that some of the insurance products that people need, don’t exist. This allows our clients to deliver innovative products tailored made to individual customer needs to propel their growth.

In 2017 Amodo has had standout year in terms of company growth, our platform is now available in several EU countries and other established markets globally with clients such as Generali, Porsche bank and BNP Paribas Cardiff.

In Slovenia, Our Usage Base Insurance program is among the fastest growing projects globally. In a little over a year we have achieved an 8% penetration of the driving population. The numbers are steadily arising and the project is continuing to develop, with additional automotive partners entering the successful program to deliver more value to the driver.

Upon examination of our programs and based on Analysis of more than 700.000 vehicles our platform has achieved the following:
- 4x lower customer acquisition cost, compared to industry average
- 60% accident risk reduction for active users, due to Amodo’s advanced gamification
and behavior modification
- More than a third of our active users use the app every 2 to 3 days
- Less than 4% churn among our users on a yearly basis
- Active user to policy holder conversion is 85%
- 11% cross sell ratio per in app campaign

Based on solid results and continual growth we believe Amodo is an ideal candidate for The Digital Insurer European Start Up InsurTech Award.