Key Highlights
- OptiSol developed a Driver Scoring Model and integrated it into an interactive Power BI dashboard, providing detailed insights into driving behaviors like speed, braking, and turning.
- The client struggled with inadequate driver behavior analysis, slow data retrieval, and limited visualization tools, hindering decision-making and risk assessment.
- We introduced a Driver Scoring and Clustering Model, a REST API for score retrieval, and Power BI dashboards. IoT devices tracked driving metrics, all supported by AWS services and Fast API.
- The solution enabled accurate premiums, faster data access, and better risk assessment, leading to fairer pricing and informed decisions.
Problem Statement
01
Lack of Behavior Analysis: The client struggled to set fair insurance premiums due to inadequate driver behavior analysis. Traditional methods did not reflect individual driving habits.
02
Slow Data Retrieval: The insurance team faced challenges with slow and cumbersome data retrieval from telematics, which delayed their ability to make timely and informed decisions.
03
Limited Data Visualization: The absence of visualization tools restricted the ability to analyze driving patterns, affecting risk assessment and informed decision-making.
Solution Overview
01
Developed a Driver Scoring Model for a US based insurance company to assign daily scores based on driving habits using IoT devices to track every action such as speed, braking.
02
By implementing a Driver Clustering Model to group drivers with similar behaviors, allowing them for more accurate and targeted insurance premium adjustments based on IOT data.
03
We have created a REST API for efficient retrieval of driver scores by individual or company, streamlining data access and supporting timely decision-making.
04
Our team developed Power BI dashboards to visualize driving behavior trends, enhancing risk assessment and decision-making through interactive and detailed insights.
05
By using AWS services (S3, Glue, Lambda, RDS), Weather API, and Fast API to support data processing, storage, and API development, ensuring a robust and efficient solution.
Business Impact
About The Project
OptiSol enhanced a US-based insurance company’s premium setting by developing a Driver Scoring Model that assigns daily scores based on driving habits, ensuring fairer premiums. We implemented a REST API for efficient driver score retrieval and a Driver Clustering Model for accurate premium adjustments. Interactive Power BI dashboards improved risk assessment, while AWS services and Fast API supported robust data processing and storage.
Tech Stack
Testimonials of Our Happy Clients
Ken Kisner
Global Head of Digital R&D
My experience has been incredibly positive. They were incredibly easy to work with, even with changing requirements.
They are incredibly competitive, but are only a fraction of the cost of US companies.
They are definitely the most professional of the foreign companies that we were looking into.
Nyswyn K.
Director of Software Development
Our journey with OptiSol has been nothing short of remarkable. For over 7 years, we have partnered with them on our digital transformation, and the results have been truly transformative.
Over the years, we have come to trust OptiSol Business Solutions as a reliable and strategic partner.
Al Bagiro
CTO, Auto Insurance Company
The AI engine was completed on time and trained to 90% accuracy. Their eagerness to learn new knowledge impressed us.
Their team is large to handle multiple projects at once, and likes to resolve challenges as well as learn new things. They also welcome regular communications, and of course, needless to say, develop everything in sprints.
Dan Talken
Founder, CEO, & CTO, My Equipment Library, LLC
OptiSol Business Solutions has shown youthful skill and dedication to the projects. Moreover, they have been quick to implement their solutions without sacrificing the quality of each platform.
We’re constantly impressed with their speed and quality of the development that they achieve on a consistent basis.
Dr. A.K Pradeep
CEO MachineVantage
Exceptional Collaboration and Expertise - A Top-Notch Partner for AI, ML, and Digital Applications.
I have had the privilege of working with an exceptional team of professionals from India on numerous AI, ML, and digital application projects. Their expertise in these domains is remarkable, and they consistently impressed us with their knowledge, resources, and innovative approach.
Rick Tigges
CFO, Bemodo
They are very responsive and able to shift focus quickly as we have needed it for business reasons.
OptiSol Business Solutions has been great at documenting the timeline of the project. They were very responsive and were able to shift focus quickly, as well. They discuss what they’re working on without any issues. So far, there’s no need to improve their service.
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