Humn.ai, the disruptive insurtech and dynamic pricing platform provider for commercial motor insurance, has announced a partnership with the International Division of QBE Insurance Group Limited (QBE) to enhance capacity in the taxi fleet market. This collaboration aims to offer branded A-rated insurance policies to taxi fleets, leveraging Humn’s innovative platform and unique dynamic pricing insurance solutions.
Humn’s proprietary platform calculates insurance premiums for fleets in real-time on a trip-by-trip basis. Additionally, it provides data-driven insights into individual driver behavior, enabling fleet managers to make informed decisions. Humn’s fleet risk management portal is accessible from any device, allowing for proactive risk management and enhanced visibility, ultimately influencing insurance premiums. To further support fleets and drivers, Humn’s risk management team provides tailored weekly support, training, and guidance throughout the policy period.
Under this partnership, QBE will underwrite Humn’s fleet products, utilizing the comprehensive suite of risk profiling and management systems offered by Humn. The primary focus of the collaboration is to address the issue of fair risk assessment in the taxi market. Traditional fleet motor insurance relies on historical data and demographic information, lacking real-time driver behavior, geospatial data, and traffic data. As a result, risk profiles are less accurate, leading to misalignment in coverage and pricing expectations.
James Cowen, Chief Commercial Officer of Humn.ai, said: “We are incredibly pleased to be working with QBE, who have shown a strong understanding of the benefits of providing more agile and dynamic pricing solutions to the market. We hope that this partnership will help to drive down costs and improve safety on the road, particularly for the taxi market which has historically overlooked the power of data in creating better insurance solutions across their fleets.”
Jon Dye, Director of Underwriting (motor) at QBE, added: “Working with an innovative and data-driven partner such as Humn will help provide fleets with more tailored solutions while providing us with greater insight into how to best meet their needs. We are excited to be joining them on our shared vision to develop forward thinking and sustainable customer solutions.”
