FAIR SIGNED
Future Advanced system for an on-demand Insurance Reliable product based on driving behaviour analysis
Total Cost €
0EC-Contrib. €
0Partnership
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ATTENTION there are some problems with word registering
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FAIR project word cloud
Explore the words cloud of the FAIR project. It provides you a very rough idea of what is the project "FAIR" about.
Project "FAIR" data sheet
The following table provides information about the project.
| Coordinator |
AIR SRL
Organization address contact info |
| Coordinator Country | Italy [IT] |
| Project website | http://www.fair-myair.eu/ |
| Total cost | 2˙507˙878 € |
| EC max contribution | 1˙755˙515 € (70%) |
| Programme |
1. H2020-EU.3.6. (SOCIETAL CHALLENGES - Europe In A Changing World - Inclusive, Innovative And Reflective Societies) 2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument) |
| Code Call | H2020-SMEINST-2-2016-2017 |
| Funding Scheme | SME-2 |
| Starting year | 2018 |
| Duration (year-month-day) | from 2018-04-01 to 2020-03-31 |
Partnership
Take a look of project's partnership.
| # | ||||
|---|---|---|---|---|
| 1 | AIR SRL | IT (MILANO) | coordinator | 1˙328˙337.00 |
| 2 | FIT2YOU BROKER SRL | IT (VIGEVANO) | participant | 220˙411.00 |
| 3 | MAVIGEX SRL | IT (BOLOGNA) | participant | 206˙766.00 |
| 4 | FIT2YOU SRL | IT (SESTO SAN GIOVANNI) | participant | 0.00 |
Map
Project objective
The world is shifting to a new business model, were customers have changed their purchasing path: they are happier subscribing to the outcomes they want, when they want, rather than purchasing a product with the burden of ownership. Consumers today have new expectations; they want to achieve outcomes, not ownership; customization, not generalization. The car insurance market is traditionally linked to the old bonus-malus model, a system that penalizes the ones who make accidents and rewards those who do not incur in them. In a consumer oriented world, insurance becomes a tool for the driver and not just a mandatory cost. What do you think about a relevant cost reduction (up to 40%) but also an added value according to driver behaviors? And what about a system connected with your necessity? A free coffee when you are tired? Gasoline discounts? A free coverage for your weekend because you are a good driver? FAIR meets such requirements, developing a cloud-based ecosystem to commercialize big data and machine learning based insurance, turning customers into subscribers. The coordinating partner in cooperation with an insurance broker and a multimedia company is launching an on-demand insurance service for connected cars. The new insurance policy is revolutionizing the traditional sector with a Pay-Per-Mile and Pay-how-you drive approach, introducing access to discount/cash back opportunities, setting-up and managing insurance packages via app and accessing new safety and reporting functionalities. The new model will be coupled with a service for car dealers and fleets that will bring advantages in terms of car health remote monitoring, knowledge of customers’ experience and advertising tailored service. The competitive advantages: superior risk selections and loss control; analytics to support digital underwriting process through a war room based on driving and crash data; better pricing and cost claims reduction and reporting functionalities to government facilities.
Deliverables
| Insurance legal frame-work | Documents, reports | 2020-02-19 08:18:39 |
| Plan of exploitation and dissemination of results (PEDR) - First release | Documents, reports | 2020-02-19 08:18:39 |
| Project graphic identity (LOGO), leaflet and poster | Websites, patent fillings, videos etc. | 2020-02-19 08:18:39 |
| Project Website | Websites, patent fillings, videos etc. | 2020-02-19 08:18:39 |
Take a look to the deliverables list in detail: detailed list of FAIR deliverables.
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The information about "FAIR" are provided by the European Opendata Portal: CORDIS opendata.