BNP Paribas Cardiff & Amodo - insurance in the shareable economy

The Amodo and Paribas Cardiff partnership started in 2015, following Amodo winning the BNP Paribas call 4 ideas program. Since this victory Amodo has worked closely with BNP Paribas Cardiff as a part of their strategy to enhance traditional insurance products to preventative, customer orientated, data-focused, and technology-driven services.

The first joint project “Safe Ride & Drive” a mobile protection app, addressed the issues relating to distracted driving in the Italian market, with focus placed on the mobile-savvy driver segment aged less than 24 years old. Through the Amodo platform young BNP Paribas Cardiff drivers & their parents gain access to a set of support services such as Geo-Location of the car, avoid text/calls while driving functionality and for the sharing of driving behavior and drivers related alerts.

The next phase of the Amodo/ BNP Paribas Cardiff partnership broadens to exploring the role Insurance can play in the developing Carpooling / Ridesharing economy. Prototypes of a Shareable Mobility Profile have been developed that capture driving data and continually assess performance to create a virtual driving score.  The purpose is to provide peace of mind to operators, ensuring that their cars will be safely used and to also provide individualized benefits to the driver based on the transferable mobility profiles. On-Demand Short Term Insurance Products will be available to end-users, to be distributed via the mobile app and the data-driven profiles will provide Insurers an accurate platform to calculate premiums.

About Amodo 
Amodo is an award-winning insurtech company. Amodo Connected Insurance Platform enables insurance companies to create and brokers to place hyper-personalized usage-based insurance (UBI) products on the market. Amodo clients use its platform to gain strategic insights into customers' profiles, segment them into relevant groups and acquire profitable ones. Over the past nine years, this European insurtech launched close to 50 Connected Insurance projects worldwide with some of the leading companies such as AIG, Porsche Insurance, UNIQA, and many others. Amodo was named by Financial Times as one of the top 5 Insurtech companies globally, is a winner of a prestigious Digital Insurance Agenda Diamond Award in 2020, and has been named by Frost and Sullivan as the Best Practice Leader in the Usage-Based Insurance market in 2021. 


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