Dynamis: 50 years of experience in motor insurance
Dynamis Insurance Company is a non-life insurance company founded in Greece in the ‘70s. Being the successor of GENKA Insurance Group which already was representing in Greece some of the giants of global insurance industry at the time, listing Guardian Royal Exchange Assurance PLC among them. Using the knowhow of the previous involvement in insurance Dynamis soon was established in the Greek market offering a wide range of non-life insurance products, with motor insurance playing the biggest role in company’s history.
Therefore, an insurance company’s participation in the INFINITECH H2020 project is necessary to transfer the knowledge and the experience regarding motor insurance, acquired in almost 50 years in the insurance industry. So Dynamis is actively involved in pilots and tasks of the project that cover the sector of fraud detection and usage-based insurance.
At this early stage of the INFINITECH H2020 project, Dynamis’ role is to provide several case studies that need to be dealt with during the project. The principle target from the insurance company’s point of view is to collect information from various sources, including data collected from On Board Units (OBUs) connected to vehicles in order to evaluate the risk with an automated risk assessment process and provide to the insureds personalized insurance policies with fair pricing, taking into consideration their needs and their driving profiles.
These are, more or less, the fruits of an almost 50year old experience in motor insurance and the continuous observation and evaluation of Greek and European insurance market. Dynamis, as an insurance company, will provide to the consortium anonymized datasets concerning vehicles, drivers and policies as an input to the INFINITECH application to be created within the project.
Of course, this is just the start of Dynamis’ journey in the project. In the next months further contributions will be provided in order to reach the end-goal of the pilot and thereby of the project.