Since 2021, the Swiss company kasko2go has been driving the global expansion of its flagship “Normal Sigma” solution. Signing with Amodo expands the use of the companies' technologies, particularly in the insurance sector. This move aims to significantly increase the profitability of insurers while providing superior accident-mitigation solutions for drivers.
Companies intend to integrate kasko2go's risk assessment solutions into Amodo's existing offerings. This provides kasko2go with quick access to new markets while offering Amodo’s new and existing clients a unique blend of best-in-class technologies.
kasko2go specializes in data science and the development of technologies that have been shown to improve insurance processes and profitability. Kasko2go's technology is designed to hone and improve business, risk, and actuarial processes by utilizing highly refined big data and artificial intelligence capabilities. The technology analyzes real-world accident data in conjunction with the weather, traffic density, time of day, and a variety of other variables to calculate the precise probability of traffic accidents on road networks. Amodo's advanced technology and platform would enable kasko2go to provide its clients with a leading front-end system to execute their client-facing strategies, which would also be fueled by kasko2go's technology.
Amodo has a proven track record of working with some of the biggest names in the insurance industry. Amodo's main product, Connected Insurance Platform, enables insurance companies to create and brokers to place hyper-personalized usage-based insurance (UBI) solutions on the market. Amodo’s clients use its platform to gain strategic insights into customers' profiles, segment them into relevant groups and acquire profitable ones. Amodo's collaboration with kasko2go adds even more value to the clients' experience and provides deeper risk insights.
Marijan Mumdziev, CEO of Amodo, adds, “We are always excited when it comes to spreading the partner network and expanding our global presence. This venture of the two companies’ with their combined knowledge and expertise, can only produce amazing results, and I'm confident that this will be the case here."
Amodo and kasko2go had been communicating prior to their face-to-face meeting at an InsurTech Insights event in London. They saw an opportunity to close significant market gaps and provide even more comprehensive solutions to their customers.
According to Tal Yampolsky, CEO of kasko2go, "I strongly believe that there does not have to be an 'or' between the different providers, especially with the emergence of new innovative and valuable solutions in the InsurTech sector. It makes far more sense to connect new technologies and thus create even more added value for all parties."