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kasko2go: from the spark of idea to reality of safe driving


Try to imagine yourself as Ford with an idea of an assembly line. You have the technology that is capable of turning around the entrenched way of life and the market. But the rest is still not prepared for the change. Did you imagine? Well, you have to realize the following: the insurance industry everything is functioning like it did thirty years ago. As a quick reminder — it's already 2018.

If we look back at the development stages of our product, we can put it simply this way: it was just a good idea at the right time. The circumstances formed the fertile ground for the change of the perspective. The technologies were absorbing industries one by one, changing the manner we communicate, make purchases and get to know the world around. Ironically, the insurance industry happened to neglect the technological outburst and and didn't feel like it's about time to take a closer look at technologies and their capabilities. Insurers gladly adopted the 'wait and see' approach, and that stance made us go for it and start working.

The first idea about telematics came into our minds five years ago. Few years later we started to think about developing an app for the smartphone, because the capabilities of an average smartphone was enough to provide the necessary information and give accurate data for calculation and scoring for the product. At that time the situation within the insurance industry was the same as twenty years ago. The stale air in the insurance was due to red tape and outdated business models. Some players in the market have attempted to work with telematics here and there, but the solutions were similar to the electric cars. So basically no one actually made significant moves forward.

All the brilliant ideas are nothing without the robust team of talented people. So the transformation of the concept into the specific tasks demanded the engagement of the experienced professionals, and that was the number one priority at the outset of the project. We basically came from the development of one side of the scoring which kept us busy for over five years. The other part of the expertise came from the experience in the fraud prevention from detection which kept us busy for another five years. Creating the community is comparatively new objective, and we are working on it for about one and a half years. The team is comprised by high-profile specialists: Dmitry Bakutin (R-Telematica), Andriy Khavryuchenko (Board Member, Lead Blockchain Architect).

While working on technological framework we faced an interesting contradiction: the technology can actually make businesses more humane, more client-oriented and ethical. The preciseness, cost-effectiveness and data-driven approach makes service highly personalized and blockchain greatly reduces processing time. Thus, the old challenges of the sphere as side effects (frauds, bureaucracy and costliness) are eliminated with the unreasonably conservative insurance. In other words, we offer smart insurance industry instead of the one we knew.

Our mission is truly global, and we do realize it is an uneasy task. However, the barriers and challenges are not to stop us; they are helpful in tailoring the better product for the market. Now the major concerns are related to the scoring and right calculations as this technology is still in its infancy. Today the majority of the startups are not able to derive real big data about the drivers to make an adequate calculation. So here we are probably unique without exaggeration because we have 3 million drivers to provide data for us.

At the moment the elaborated product is ready to be used by the customers and can give the perspective for the fair pricing and for the idea of the safe driving community. The customers — our drivers — have really strong arguments to become a part of the community. Our aim is to reach each of them wherever they are and explain that the change is not only about providing the product that is cheaper. It's about change within minds where safety is the only option.

From the very beginning kasko2go was not just an application, the product itself goes much further. The solution we have been working on was extended to an entire philosophy — creating the community of safe drivers. It includes all the processes in the auto insurance industry and replaces the practices known before. It is not about optimization of one or another process, it is a totally different view on the risk calculation and assessment of the claim repayment. So we are witnessing the birth of the new industry and new processes as a result. Innovativeness empowered us to look far ahead and predict — this is what the insurance anticipated and lacked for a long time.