Russia’s Yandex Uses AI To Reward Safe Drivers With Big Discounts On Insurance, Auto News, ET Auto

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Yandex did not disclose the terms of the deal and Renaissance Insurance declined to comment on the terms.

Russian tech giant Yandex plans to reward responsible drivers on its carsharing platform with cheaper insurance this year, it told Reuters, using machine learning in a pilot program similar to the one already adopted by Tesla.

Newly listed Renaissance Insurance has verified Yandex’s algorithms and the two companies will team up to offer auto insurance discounts of up to 35% to the safest drivers using the Yandex.Drive app.

Yandex did not disclose the terms of the deal and Renaissance Insurance declined to comment on the terms.

Russia has been trying for years to improve road safety. On average, 45 Russians died in road accidents every day in 2019 and 2020, according to traffic police data, far more than in many other countries.

The erratic driving videos in the country have garnered millions of views on YouTube.

The Yandex carsharing service’s “Driving Profile” is designed to encourage safer driving. It tracks users’ driving, records sudden acceleration, hard hits on the brake pedal and speeding, noting a reduction of three measures since its introduction in June.

Yandex said its product was the first joint offering between a carsharing company and an insurance company based on the use of big data.

Tesla has already started offering insurance using real-time driving behavior, lowering people’s insurance premiums as their safety score increases.

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