AXA partners with taxi firms on Internet of Vehicles project – Reinsurance News

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27th October 2022 – Author: Jack Willard
AXA Hong Kong and Macau have announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s very first Internet of Vehicles (IoV) project collaborated by insurer and taxi company.
The collaboration aims to enhance taxi driving safety, and protect taxi drivers, passengers and other road users, through the use of innovative technology.
Through this partnership, 50 taxis from SynCab and Chung Shing Taxi will be the first to install TaxiSafely’s telematics device.
Equipped with a unique high-sensitivity duo lens, the detection device will provide real-time monitoring of road conditions, with a built in 3D lens, as well as accurate detection of obstacles, and will also advise taxi drivers immediately on the high-risk precautions to avoid accidents.
Moreover, AXA and Chung Shing Taxi will review and analyse the collected data regularly to assess the driving safety of the taxi fleet.
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Additionally, the data will allow AXA to determine the insurance premiums based on the actual driving performance of taxi fleet, the past underwriting and claims records and provide premium discounts to those taxi fleets with good driving records.
This will allow for fair treatment especially for drivers with good driving performance and enhancing awareness on driving safety among taxi drivers.
Sally Wan, Chief Executive Officer, AXA Greater China, said: “AXA is deeply committed to fostering sustainability in Hong Kong. We are honoured to partner with Chung Shing Taxi and TaxiSafely to launch this innovative project, making a contribution to Hong Kong’s development of smart city and improvement of road safety. This brings to life AXA’s purpose – act for human progress by protecting what matters. Taxis play an important role in public transportation. We believe this partnership will benefit taxi drivers, passengers, all road users and also inspire other like-minded companies to join forces to improve overall road safety for the community.”
Sonia Cheng, Executive Director of Chung Shing Taxi and the Founder of SynCab, commented: “By collaborating with AXA and TaxiSafely, we look forward to best utilising data science to effectively enhance the safety standards of the taxi industry, and give greater peace of mind to taxi passengers. With the precise devices and data analysis, drivers from Chung Shing Taxi will not only enjoy more comprehensive protection, but also bring greater confidence to our passengers. We sincerely hope that the programme can be extended to more taxi fleets.”
Antonio Wong, Founder and Chief Executive Officer of TaxiSafely, added: “With the support of Cyberport, we have established Hong Kong’s first telematics company focusing on taxi driving safety. We are honoured to collaborate with AXA and Chung Shing Taxi, the collaboration demonstrates a more extensive use of our solution in a wider range of everyday transportations. Through this collaboration, we wish to leverage our unique driving safety solution specially designed for roads in Hong Kong to enhance the overall driving safety and awareness of professional drivers, and in turn improve general road safety.”
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