With the development of cartographic databases and building unique data analysis algorithms for IT giants like Google, the Kasko2go team started its journey. About 5 years ago the team began to research about how the cartographic data operation algorithms can be linked with driver’s behavior analysis. Usage Based Insurance [UBI] was the aftermath of their intense research. Kasko2go is a customized vehicle insurance which offers an individual approach to every client by analyzing driver’s behavior, selected routes, accident rate and, weather conditions.
After completing an outstanding analysis and experiments in the telematics and an intense data analysis, the team developed a model which can be used on a smartphone instead of various OBD/CAN controllers. Two months ago, the app was released successfully and it was downloaded by over thousand users who shared positive feedback about Kasko2go.
What is Kasko2go?
Kasko2go is a smartphone based, comprehensive collision insurance solution which facilitates the insurance holders to pay as they go. There is no insurance payment while the car is not in use. The insurance is covered on a per minute, kilometer or daily basis. The Kasko2go app is available freely for all the smartphone users wherein all the online services are available in the app itself.
The app is built completely based on the automotive industry standards. Apart from this, the smart insurance app makes use of various Digital technologies such as Telematics, navigation, big data technologies, etc. It also consists of an efficient risk management system which adjusts the insurance premium to each customer’s profile.
Kasko2go provides price transparency, comparatively lower rates, personal control over insurance rates and various other benefits for its customers. It helps the insurance companies by providing better risk management, lower claims losses (up to 30% reduction compared to insurers offering traditional solutions). It also provides better fraud analysis and fraud detection methods. Kasko2go is a platform which delivers better interactivity and communication with its customers, which in turn results in customer satisfaction.
Kasko2go provides multiple features such as Dynamic Evaluation of Driving Conditions, Accident Risk Map and Fraud Detection.
Dynamic Evaluation of Driving Conditions: Dynamic evaluations are done with the help of dynamic algorithms which evaluates the quality of driving, weather condition, and the pavement characteristics.
Accident Risk Map: The system has the ability to determine accident spots and monitor driver’s behavior at these locations, based on which the driver’s score and insured minute cost will be impacted. This certainly would reduce the insurance risk and would improve the driving style.
Fraud Detection: Based on the cutting edge technology, the team has built a military grade fraud detection system using which we can analyze the behavior of the driver during the accident, and set the trust index based on his insurance and history record. This helps in finding incidents which involve high fraud risk and to cut the leakage and reduce the fraud rate of the insurer.
Initial Coin Offering and Token Sale
The Initial Coin Offering [ICO] of Kasko2go aims to fund its development plans which include the development of the market footprint across Europe, the fraud detection technique, and the progressive tokenization of the company’s ecosystem on the blockchain technology.
The investors can be either crypto investors or fiat investors. The team’s goal is to collect almost 35 million Euros and release K2G tokens in exchange. The base token price on the first phase of the token launch will be 0.10 EUR. The token sale is completely business oriented and the token issuance complies with Know Your Customer [KYC] and Anti-Money Laundering [AML] standards. The investors can use Ethereum [ETH], Bitcoin [BTC] and Fiat [EUR or USD].
With the help of the ICO fund, the ecosystem of kasko2go will be tokenized with various functionalities attached to the K2G token. The token can be used by all the customers and the kasko2go third-party business partners worldwide. Tokenizing ecosystem helps in identifying the insurance assets and change the data according to the business type via digital records. The car insurance will be done solely using K2G tokens.
The Kasko2go team is currently working on its business developments for the next couple of years. The team is also expanding its marketing techniques by targeting various insurance company joint projects with automotive OEMs across Europe to launch the kasko2go application.
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