The key supplier in Europe of vehicle data
Wunelli is primarily a floating vehicle data management company, this is achieved by providing the European Motor Insurance Industry with a 'smart insurance' solution. Wunelli has developed an integrated hardware, data collection and insurance administration solution that provides Insurers with the opportunity to use telematics to create innovative insurance products that can help reduce loss ratios and claim frequencies. Wunelli manage the supply chain for Insurers and collect floating vehicle data that enables insurance billing and analysis of driving behaviours.
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Wunelli is working with a number of leading insurers to develop their own telematics based products and the first of these is planned for a launch in October 2010.
In January 2009 Wunelli launched the UKs first Pay As You Drive Panel Insurance product, coverbox www.coverbox.co.uk which will provide
Comprehensive cover from less than a 1p per mile
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Comprehensive cover from less than 1p per mile
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Theft tracking of the vehicle
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Choice of leading Insurers
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Personal Website portal to review your driving and insurance
coverbox is a proof of concept for Wunelli to prove to the Insurance Industry that telematics based insurance can assist in reducing risk. Wunelli is working in partnership with both Insurers and database management specialists CDL (Cheshire Data-Systems Limited), to provide customers with an Insurance Service that puts them in control of their costs and gives Insurers greater understanding of driving patterns to enable them to price insurance on a more individual basis.
Customers are charged a rate for their mileage, dependant on the time of day that they drive. This type of Insurance is only possible through the advent of telematics designed to be deployed for Insurance purposes. Telematics is a way of monitoring the location, movements, status and behavior of a vehicle or fleet of vehicles. This is achieved through the combination of a GPS (GNSS) receiver – enabling the tracking of location at any time, and a 'blackbox' which we call 'coverbox', including a GSM modem installed in each vehicle, communicating with web-based software. The data is turned into information by specially designed management reporting tools in conjunction with a graphic, easy to understand display on computerised mapping software. The coverbox installed in customers cars also allows Wunelli to retrieve the vehicle if it stolen through our Theft Tracking On Demand Service.
This launch in 2009 was the initial step in the Wunelli’s objective to be 'The key supplier in Europe of floating and OBD [On Board Database] vehicle data' and in collating driving behaviours to enable the design of further insurance products.