Kuala Lumpur, 5 September, 2017 – Pixelated Sdn. Bhd. (“KATSANA”) today announced it has signed memorandum of understandings (MoUs) with Allianz Malaysia Berhad, Etiqa Insurance Berhad, Etiqa Takaful Berhad and Axiata Business Services Sdn. Bhd., to embark on a collaboration to help boost adoption of usage-based insurance (UBI) in Malaysia.
In the collaboration, KATSANA will leverage on its experience in telematics and big data to provide a UBI platform to Allianz Malaysia Berhad, Etiqa Insurance Berhad, and Etiqa Takaful Berhad to develop UBI products for their customers. In addition, the parties involved will work together with KATSANA to improve its newly launched DriveMark telematics app, as a means to collect driving behavior data, as well as explore innovative yet fun ways in encouraging app users to improve their driving behavior. Furthermore, they will also be promoting DriveMark through their respective channels.
A signing ceremony was held in Kuala Lumpur today with the first MoU signed by Zakri Mohd Khir, Chief Executive Officer (CEO) of Allianz Malaysia, Syed Ahmad Fuqaha Syed Agil, Managing Director and Co-Founder of Pixelated Sdn. Bhd. (KATSANA) and Asri Hassan Sabri, Group Chief Business Operations Officer of Axiata Group Berhad (Axiata), representing Axiata Business Services Sdn. Bhd.
Meanwhile, the second MoU was signed by Ahmad Rizlan Azman, Chief Operations Officer (COO) of Maybank Ageas Holdings Berhad representing Etiqa Insurance Berhad and Etiqa Takaful Berhad, as well as, Syed Ahmad Fuqaha and Asri Hassan.
The signing ceremony was witnessed by Ramanathan Sathiamutty, Chief Transformation, Celcom Axiata Berhad, Encik Jamaludin Bujang, CEO, Malaysia Venture Capital Management Berhad and Encik Amin Shafie, Partner, Intres Capital Partners Sdn Bhd.
Syed Ahmad Fuqaha Syed Agil, Managing Director and Co-Founder of KATSANA said, “We are extremely pleased to receive support from Axiata and major insurance companies in the country, Allianz Malaysia, and, Etiqa Insurance and Etiqa Takaful. This collaboration is important for all of the parties involved, as it helps pave a way towards promoting a progressive and transparent UBI approach.”
“At Allianz Malaysia, we feel that KATSANA offers a very exciting telematics app, which is easy to use, without the need to pay and install a physical device in your car. All you need is your smartphone. This partnership with KATSANA will allow us to take one step into usage-based insurance in providing incentives for good driving behavior,” said Zakri Khir, Chief Executive Officer of Allianz Malaysia Berhad.
Ahmad Rizlan Azman, Chief Operations Officer of Maybank Ageas Holdings Berhad, representing Etiqa Insurance Berhad and Etiqa Takaful Berhad said, “We are exploring ways to make safe driving more pleasurable for drivers by applying gamification techniques. The feature typically records any extreme maneuvers such as harsh acceleration, braking, turns and speed. The data is then integrated in the form of a scorecard that drivers can use to record their driving performance and this will serve as direct feedback that incentivize drivers to compete against themselves for the best scores. Thus, it will also encourage drivers to improve their driving habits and potentially lower their premiums.”
Asri Hassan, Group Chief Business Operations Officer of Axiata said, “In the new world of connected vehicles, digital convergence will play a huge role in fueling the automotive industry forward. Together with Celcom, we have been innovating in this IoT space through our analytics, as well as digital and IoT technology platforms. Coupled with our managed M2M capabilities and supported by Celcom’s widest coverage in Malaysia, we are best positioned to enable the transportation and relay of data in a safe, secure and fast manner.”
Asri explained, “Through Axiata Digital Innovation Fund, Katsana is strategically placed to benefit from the Axiata partnership and to leverage on our global digital enterprise momentum. As a regional Group serving across some of the most competitive environments in South Asia and ASEAN, Axiata is committed to work alongside capable local entrepreneurs especially those under ADIF to successfully raise their game and compete fiercely in the global marketplace.”
Amin Shafie, partner of Intres Capital Partners, fund manager of Axiata Digital Innovation Fund (ADIF) said, “Based on our observation, ADIF believes KATSANA’s approach through DriveMark is spot-on and driven by time the company spent in studying the market dynamics in depth and understanding all stakeholders’ needs. We believe the key to UBI is always the consent of use and availability of data owned by the drivers. This allows KATSANA and DriveMark to be a platform to work with unlimited number of insurers giving the drivers the ability to make informed choices in appointing their motor insurers moving forward. This also enables the insurers to be more creative in their offerings and incentives as they are now able to gauge and assess the driver based on their driving behavior as individuals or as a fleet for corporations. KATSANA’s model is highly scalable and ADIF will continue its support in the company and its regional rollout with backing from Axiata’s business reach and network.”
“KATSANA is unique in our approach to promoting UBI by getting the major insurers to collaborate with us in establishing a transparent and progressive standard for the industry. With our experience handling telematics, we are ready to empower insurers with data for them to develop fitting UBI products for Malaysian customers. We are open to working with other insurers too,” Syed Ahmad Fuqaha concluded.
About DriveMark, usage-based insurance telematic app
DriveMark is an independent collector of driving profile data between users and insurers. It is an on-road safety mobile app that records users driving behavior and train them to be safer. It intelligently detects driving attitude and translate them into a score. Unsafe driving actions like harsh braking, harsh acceleration and sharp cornering contribute to a lower score. The higher a user scores, the better driver he/she is. DriveMark was launched in July 2017 and it is currently available on both iOS and Android versions for modern smartphones.
KATSANA via DriveMark allows drivers to choose which insurance companies they would like when they want to purchase an insurance. Meanwhile, insurance companies that partner with KATSANA get a reasonable idea of the drivers’ behavior via DriveMark scores to allow them to develop new UBI insurance products.
For fleets and individuals, they can use hardware if they want to allow for more accurate monitoring of their driving behavior. In the future, DriveMark will allow drivers to also have options for ancillary services relating to their cars. For more info, visit www.getdrivemark.com.
About KATSANA Advanced Telematics
KATSANA is brand name owned by Pixelated Sdn. Bhd, a data company focusing on usage-based insurance and connected cars. Its prediction and gamification engine excels in understanding driver behavior patterns, scoring drivers based on actual risk on the road, and engage them to become better drivers. KATSANA works with motor insurers and auto manufacturers to enable safer roads for all through a unified and API-centric automotive platform.
To date, KATSANA is one of the largest tracking solutions companies, having tracked, analyzed and scored more than 550 million kilometers of driving data, with 62% reduction of risky driving patterns over 12 months. On top of that, it has successfully recovered 98.2% of stolen cars worth over RM4.2 million in total. Visit KATSANA at cms.katsana.com
About Axiata Digital Innovation Fund (ADIF) / Intres Capital Partners
Established in late 2014, Axiata Digital Innovation Fund (ADIF) is a technology venture fund invested by AXIATA Berhad, Malaysia Venture Capital Management Berhad (MAVCAP) and Johor Corp. It is managed by Intres Capital Partners, a subsidiary of MAVCAP that ensures ADIF’s portfolio companies benefit from the partners’ extensive network and cumulative experience of over 50 years in the venture capital industry.
To view press release online, please visit: http://hashimpr.com/katsana-signs-mous-with-axiata-and-major-motor-insurance-firms-to-boost-adoption-of-usage-based-insurance-in-malaysia