Folksam connects safe car insurance with the help of WSI
Folksam’s Köra Säkert (Drive Safe) is the first connected car insurance where the premium is based on how the customer drives. Köra Säkert (Safe Drive) is a service that helps drivers adhere to the speed limit and thereby saves lives and the environment, with the added benefit of reducing insurance premiums.
Green light on the indicator from WSI gives Folksam’s customers cheaper insurance
Stina Wärn, product owner on Folksam tells us more:
– The idea around connected car insurance was born after a previous research project. Research showed that a combination of direct feedback in the driving compartment and financial incentives resulted in the reduction in speed of test drivers. We also know that by reducing speed by a couple of km/h can (in Sweden) save at least 40 lives per year in road traffic. In May 2015 we started collaborating with WSI in order to develop a product that can give car drivers real time feedback on their driving, says Stina Wärn.Read the whole case here