Wejo Group is expanding its insurance offering across the US through automotive giant Ford.
Ford will provide, with customer consent, connected vehicle data to drive innovation and accurate policymaking.
The Nasdaq-listed Manchester TransportTech scaleup – a global leader in cloud and software analytics for connected, electric and autonomous mobility – also revealed its latest turnover and losses for the Q3 period.
The collaboration with Ford will allow insurance providers to better understand driving behaviours and support user-based intelligence for end-to-end insurance, says Wejo.
Wejo – third on our TransportTech 50 ranking in 2021 – and Ford launched the same programme throughout Europe in June.
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“Expanding our joint capabilities with Ford in the US enables mutual benefit to both policyholders and insurers as auto insurance companies leverage connected vehicle data for good,” said Richard Barlow, founder and CEO of Wejo.
“We’re excited to embrace the estimated $1.7 billion by 2030 total addressable user-based insurance market in the US by working with vehicle OEMs to help insurance providers leverage actionable data insights.
“Our expanded partnership with Ford for end-to-end insurance is a significant step toward reinventing auto insurance for a smarter, safer future.”
Amy Graham, services marketing director at Ford Motor Company, added: “We are excited to expand our insurance data services relationship with Wejo into the US market.
“Connected vehicle data allows insurance providers to better understand driving behaviours which can result in discounts to policyholders and ultimately help reduce the total cost of vehicle ownership for our customers.”