Two market leaders join forces: Tryg and ABAX initiate innovative collaboration
The insurance market has stayed unchanged for years. Price models and adjustments have been made on a general basis to standardise the products. Through access to innovative mobility solutions and data analytics the industry is facing a big change.
To be at the forefront of this development, Tryg, the Nordic region’s largest insurance company and ABAX, the Nordic region’s largest telematics company, enter into a strategic collaboration. Together they will develop completely new, data-driven insurance solutions, which give the customer a safer, easier, and more sustainable everyday life in the future. ABAX and Tryg will by their collaboration use existing technology in new ways and combine the companies’ expertise, to create new products that will redefine how we look at insurance.
“Using mobility data from the ABAX platform, we can create new pricing models based on data, which is very exciting. We see opportunities to reduce the risk of injury and make drivers aware of how they can reduce their greenhouse gas emissions. Our new product will be of great significance for our customers; and a game changer in the way we know insurance today,” says Ingeborg Morken, Director of Business and Industry in Tryg.
“Our partnership with Tryg is an important milestone in our strategic work on the development of new data-driven services and products. Our customers will experience access to completely new services that are adapted to their needs and consumption. It is an exciting development for the insurance market in Norway, which we are happy and proud to be a part of,” says Morten Strand, CEO of ABAX.