Connected cars are big business. By 2020, revenue from connected car services is expected to top $152B, according to a recent Business Insider report. But you don’t need to have a self-driving vehicle to be on the cutting edge of the connected car market.
Just ask Italy’s Air, an innovative real-time cloud system for car data analysis, which makes any car a connected car with its wide range of services that help protect your vehicle from theft, optimize vehicle usage, manage fuel consumption, and more!
Air sits at the intersection between info mobility players, e-payment gateways, car dealers, telemetry and diagnostic providers, and car makers — and is now set to revolutionize the insurance industry by partnering with Axa, a global insurance brand, to offer insurance services.
We talk with Igor Valandro, CEO of Air, to learn more about their services, acquisition model, growth strategies and what’s next for Air.
You say your mission is “to connect everyday life in innovative and surprising ways.” What does this mean in practical terms? What kinds of services does your company provide?
We offer a new car insurance model that enables drivers to purchase new insurance services using new subscription business models. We offer lower insurance premiums, innovative anti-theft services, and a cutting-edge cloud system that processes in real time all your car information, telemetry, diagnostic data, and instant insurance.
Who are your customers? And how do your services improve their lives?
Our innovative and disruptive idea offers a unique service for carmakers, car dealers, fleet managers, insurance companies, and individual customers. Individual customers can easily manage their vehicles through our app to check on trips, car “health” status, and location. Dealers have the opportunity to increase their after-sale margins through predictive maintenance, data monetization, and on-demand services. And, thanks to our system, which helps prevent fraud and enables risk-prevention, insurance companies will build a better targeted customer base.
What are you doing that makes you stand out from your competition within the connected car industry?
We see ourselves as an ecosystem enabler. We are taking old business models and innovating upon them to disrupt the digital insurance market. Our platform allows automotive and insurance companies to deploy new strategies. We use machine learning and artificial intelligence to automate processes. Thanks to our algorithm, we can better understand and satisfy the needs of our customer.
What strategies are you focusing on for growth?
International expansion is a real focus. We have a new office in San Francisco, California to manage and expand our business. Furthermore, we are always looking for new services, new integrations that give our customers the possibility of more easily managing their insurance and services. Also for our partners, we continually implement new features on our system.
Can you tell us about the particulars of your acquisition model?
We sell services related to insurance policies through car dealers. Then we push our customers to upgrade to our additional services through specific calls to action and with on-demand purchases. This creates a virtuous cycle within the Subscription Economy related to the mobility of the drivers.
How do you plan to monetize existing “free” customers?
A “free” customer is tempted to buy new upgrade services related to their safety. For example, receiving assistance in case of a crash, or a tow truck when their car is out of order. We want to create loyalty in our customers by constantly providing them with the best and safest solutions, which are always available and easy to manage. Our Customer Care function really takes care of our customers, being available and providing help for any issue, problem, or question they might have.
What’s your most popular connected service?
Air Basic with protection services: HeartBeat, GeoBeat, and LockBeat. Crashguard, our new innovative assistance service in case of a car crash, is also much appreciated by our customers.
What’s next for Air?
Our goal is to create an insurance product based on a “pay-how-you-drive” idea. We’re looking to take Air from a telematics service provider to being the first Italian insurer offering this innovative service.
Protection on demand. Comfort on demand. Insurance on demand. With Air, you’re ready to roll.