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About 75 percent of motorcycles aren’t returned to their owners – VIGO transforming a nightmare into an insurance opportunity

 Insurance is on the verge of major transformations. A success story from Slovenia, Central Europe has proven that user-based services are becoming the core of its transformation and are setting future insurance trends.

An innovative motorcycle insurance policy was launched by the Slovene insurance company Sava in cooperation with the start-up Movalyse, and managed to increase its revenue by 85 per cent per user, and at the same time, it gained 4,6 per cent market share in less than 4 months. With the ability to prevent fraud, personalised premiums and enabling direct interaction with users, VIGO insurance promises a change in the way insurees interact with insurances.

 Ljubljana, Slovenia – Today’s consumers are used to receiving personalised offers and customised solutions to meet their needs, and the insurance industry is no exception. Therefore, the Slovene startup Movalyse developed a telematics product for user-oriented motorcycle insurance – VIGO insurance, which emerged from the partnership with the second-largest insurance company in Slovenia, Zavarovalnica Sava d.d. The innovative user-based insurance product, which insures the motorcycle and the driver, enables a 24/7 supervision of the vehicle. In the field of motorcycle insurance, it represents revolution and is a first of its kind in the international market. Vigobox, which can be implemented to the vehicle, informs the owner via a phone app that the motorcycle was moved unauthorised. This function prevents fraud, and its essential added value is automatic accident detection, with which it saves lives. VIGO was first introduced to the Slovene, European, and international market in spring 2019, and in the first half-year, its total available market demand reached 4,6 per cent. 

Rok Upelj, COO and co-founder at Movalyse.

The success story from Slovenia, an EU member state, matured the past three years, and it all started with a stolen motorcycle. “Our team’s motorcycle, on which we tested our products, was stolen from a locked garage. At that moment, we activated the police and hoped for the best, but we had no luck. Back then, the vehicle wasn’t insured because the insurance premiums were too high. We interviewed many motorcyclists, what the most important thing in owning a motorcycle was. The result was that safety and theft prevention comes first – and that’s when the idea for VIGO was born,” explained Rok Upelj, COO and co-founder at Movalyse. The revolutionary and innovative idea for the first telematics product and user-based motorcycle insurance policy was adopted by the insurance company Zavarovalnica Sava. Vigo stands for telemetric technology and represents a telematics motorcycle insurance platform, which prevents fraud and motorcycle theft, and at the same time, through Vigo, the end-user is also insured. It represents the first step towards new future forms of insurance, which enable automatisation, and individual, user-oriented insurance premises.


VIGO, the trendsetter in the insurance branch

Vigo isn’t just insurance. It offers much more. Increasing the safety of motorcyclists is at the forefront of our vision as they are considered one of the vulnerable groups in the traffic. Nowadays, users are looking for personalised premiums, which also include monitoring of driving patterns, enable insight to analytics, and insurance with which they can feel safer on the road,” explained Upelj.


The demand for personalised premiums, which enable insight to analytics and monitor driving patterns, has been growing for quite some time and represents the future of vehicle insurances. Vigo insurance concludes these and brings benefits for the insurance and the insuree. The innovative and affordable insurance enables a 24/7 insight of the motorcycle’s geographical location, and when an unauthorised movement of the vehicle occurs, it informs the rider through the app. Cost reduction through reduced theft and fraud risk, automated claim processing, and a unique telematic scoring system is allowing to introduce the pay-as-you-drive insurance models. What makes the VIGO platform unique is that it establishes a direct communication channel with the end-user through the connected platform, enabling direct interaction and upsell opportunities.


VIGO saves lives

Besides enabling to act fast in case of theft and fraud, Vigo’s essential function is that it automatically detects if the motorcyclist was involved in a traffic accident and calls for help. “In case of an accident, the app immediately checks if the user is safe. If there’s no response, it automatically sends a message to the 24/7 available call centre. For now, this function is only available in Slovenia, but we are planning on implementing it to other markets, where we are present, as well,explained Upelj. In 2019, Vigobox detected 11 road accidents of Vigo users, of which three were classified as serious, and could have ended in the worst-case scenario. Because of the accurate functions of Vigo, help arrived at the accident location on time, and all the lives were saved.



How does Vigobox work?

Motorcycle theft can be a very stressful occurrence for a motorcyclist. “Analyses show that in London each day, about 50 motorcycles are stolen and more than 70 per cent of them are never returned to their owner. This is a great example where telemetric insurances come in handy, because it gives the user added value, while it reduces insurance’s risks,” explained Upelj. When VIGO insurance is concluded, the motorcyclist receives the Vigobox, a small black box, which is implemented to the vehicle and connected to the Vigo app. Before every motorcycle ride, mobile data and Bluetooth need to be active to make sure that Vigobox and the app connect. In that way, the ride can be tracked and recorded, and at the same time, it enables insight into driving patterns and analyses them. When the motorcycle isn’t in use Vigobox informs its owner via the app about every unauthorised move, and in case of theft, it provides location information. “In Slovenia, we recorded zero motorcycle thefts by Vigobox users,” added Upelj.


Ambitious plans

For now, Vigo insurance is available in Slovenia and Croatia, but the team has ambitious plans to expand to new EU and other markets. The team is working on optimising additional benefits for insurance companies and strengthening the direct communication channels with the end-user. With that, trust between both parties is strengthened. “We are planning on developing new additional functions of Vigo insurance, with which each individual will have an opportunity of creating a personalised insurance policy. And at the same time, we want to establish a great and strong motorcycle platform and community, in which we’ll offer added value for all motorcyclists around the globe. Within the Vigo community, motorcyclists can share their experiences and conclude new friendships,” concluded Upelj.

Beside Vigo, the Slovene start-up Movalyse developed two other products, with which they ensure safety while riding a motorcycle. The first innovative product is the Smart Turn System (STS), which represents the first self-cancelling turn signal module. It senses when the bike completed a turn and turns the signals off. The second product is the Smart Brake Module (SBM), which senses when the bike is slowing down through engine braking or downshifting. At that moment it activates


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