The telematics company Arity on Friday announced companies could leverage its Core Driving Risk Audiences service and market themselves to drivers of numerous skill levels.
For example, an insurer could pitch premium discounts to blocs of excellent drivers and entice them to switch carriers. This may be hugely lucrative for an insurer; Arity said the lowest-risk drivers “have as much as 5x higher Customer Lifetime Value than average drivers.”
Conversely, body shops could potentially harness Arity’s database and obtain their name in front of bad drivers likely to enter crashes and want collision repair services.
It’s a lot more precise than attempting to find one’s target audience using demographic generalizations, Arity said.
“Traditional consumer marketing techniques are restricted, as they’re according to assumptions about demographics and shopping behavior, not tied to the best possibility of a driver’s risk of insurance loss or policyholder profitability,” said Fred Dimesa, Director of Advertising and knowledge Solutions at Arity. “This creates inefficiencies for marketers as well as inequities with how folks are subjected to opportunities. Arity can reduce the guessing game and be sure you spend acquisition marketing investment in your best customers.”
However, insurers and companies trying to market themselves to the various drivers won’t actually be aware of names or any other your personal data of those drivers.
“To boost privacy, Arity maintains driving behavior information inside a de-identified format,” the organization wrote inside a news release.
Essentially, your message is going to be placed before a pool from the kind of drivers you want to target, however, you won’t be given their names.
“You actually are marketing to the people who share common behaviors,” Arity spokeswoman Stacy Silver wrote within an email Friday. “Our segments are categorized based on behaviors not demographics.”
Arity said hello created segments from a swimming pool of “nearly 100 million connections. … Leveraging insights from greater than a decade of driving data history matched with insurance claims and losses, segments are calculated by proprietary risk algorithms that predict the chance of loss.”
Asked if Core Driving Risk Audiences was a choice for small businesses and if body shops could sell to crash-prone consumers within their area, Silver replied, “Yes this is usable by auto repair shops. We have a quantity of customers in this sector using our insights today.”
Arity also recently discussed other strategic automotive aftermarket telematics data use cases.
“Auto body, mechanical, and glass repair shops are considering hard braking and collision data to predict an increase in service requests,” the organization wrote inside a March 12 article.
It procedes to describe a pretty intriguing marketing scenario from a collision repair standpoint:
