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Miso: First Telematics-Based Motor Insurance App in Thailand

Miso Solutions, a newly created insurtech company, has launched its first app-only motor insurance mobile telematics platform in Thailand.

It is available exclusively in the Thai market, as Miso seeks to become the leading provider of end-to-end digital distribution solutions in the kingdom and Southeast Asia by offering insurance premiums that reflect each user’s driving behavior.

Besides, the innovative platform promises to become the ideal tool to improve safer driving, reduce traffic accidents, and lower related mortality rates.

Miso Solutions leverages the benefits of Amodo telematics technology and creates a new and unique smartphone-based “Usage Based Insurance” (UBI) solution as both an end-to-end technology platform and marketing service to drive new business among insurance partners.

According to Miso Solutions’ executive chief Edip Okur, all people pay the same for premiums today. However, drivers want to pay for solutions based on their own behavior and not “for the risk of bad drivers on the road.”

Miso has partnered with an auto insurance ally in Thailand, Chubb Samaggi Insurance PCL, to introduce the Miso platform, which includes the company’s unique “Qualify to Buy” (QTB) process. It profiles suitable customers and generates new business sales of its partner’s motor product.

Drivers who want to be qualified for an insurance offer only have to download the Miso app and drive for a while to get a driving behavior assessment. The Miso app is currently available for download through the Google Play Store, expecting iPhone users to find it on the Apple App Store starting in December.

The mobile telematics platform, developed under the “Pay How You Drive” concept, offers customers a “Qualify to Buy” (QTB) process of 15 trips or 150 kilometers to measure their driving behavior, leveraging gamification and challenges to improve driving along the journey.

It also tracks driving indicators, including acceleration, braking, cornering, speeding and phone usage, as well as distance and driving time for rate drivers in a star rating system from one to six stars ending the QTB process –with six being the gold standard.

Miso evaluates driving scores and ratings in real-time and then offers a personalized insurance proposal from Chubb Samaggi Insurance with discounts given when starting the motor annual premium according to the star rating. The best drivers could save up to 50% in total.

This way, Miso offers a truly personalized digital solution, improving the consumer experience through just one mobile app.