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FAIR is creating a new insurance model for connected cars that focuses on user behavior rather than traditional ownership. By utilizing big data and machine learning, the service offers personalized insurance options, discounts, and additional benefits based on driving habits.
The world is shifting to a new business model, were customers have changed their purchasing path: they are happier subscribing to the outcomes they want, when they want, rather than purchasing a product with the burden of ownership.
Consumers today have new expectations; they want to achieve outcomes, not ownership; customization, not generalization.
The car insurance market is traditionally linked to the old bonus-malus model, a system that penalizes the ones who make accidents and rewards thos…
AIR SRL
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