There has been quite a buzz about companies undergoing digital transformation these past few years. Some have been successful, some were failures, and many landed somewhere in between.  

Companies have had to change the way they do business as technology and consumers have pressed for better experiences — and more productivity that brings cheaper prices or increased value. COVID accelerated many to expedite digital transformation as a means of survival. But there is a fundamental difference between transformation and disruption, as noted within the definitions above.  

Disruption, especially at an industry level, requires a complete rethinking and radical change to move into a different trajectory. 

And it’s time for a complete shift in industry tactics. Mobile phone and vehicle telematics have dramatically improved, through connected vehicles and the precision of mobile phone technology — as well as applications that provide a vast set of data to track and inform driving behaviors.  

Novo Insurance is backed by Telenav, the first company to have launched GPS navigation for cell phones, and so we’ve been pioneering driver-based technologies for decades. We're leveraging our expertise in building software solutions for the world’s largest auto manufacturers like GM, Ford, Toyota, and Daimler — into building better insurance. Over 20 million vehicles on the road today use Telenav connected services. We serve the world. Our solution has been engineered for use in 120+ countries. Our cloud network spans six data centers across the US, Europe, and China. This expertise and history of understanding driving data and behavior with the use of AI will ensure Novo consumers are getting fair pricing and real-time safety information. 

Insurance that can be transformed with software and connected services. We’re harnessing the power of tech to ensure that our drivers have an on-the-go awareness of potential safety hazards on the road. We’re building on our app with new features we’re excited to unveil shortly. Features that will help inform drivers on best practices and reward them for safe behaviors. 

Insurers have a choice: be disrupted or be the disruptor. Keep the status quo or move full speed ahead — with new products, services, and business models. Novo offers insurance that has been curated and personalized specifically for a particular driver’s unique driving habits — allowing consumers to get the right amount of insurance for the right price.   With our launch into Wisconsin, this future is already here. 

Novo will be disrupting the auto insurance space by leveraging the latest in technological advances, a history in telematics and navigation from our parent company Telenav, and new thinking in business models.  

We will use our big data experience, artificial intelligence, and a very unique experiential branding and rewards program that will attract the next generation of drivers and provide a true value-based insurance program. The Novo rewards program will incentivize better and safer driving habits. Studies show that highly engaged drivers are 65% safer than unengaged drivers. We’re focused on providing the best in customer care with easy, accessible communications with DTC chatbots, our on-the-go mobile app, and service agents always ready for driver’s phone calls. We know people are busy and want to communicate in their preferred format so we make getting a quote and policy easy online and customers’ support through live chat easy and efficient. If you want to talk live to our licensed agents, you can do that at any time.  

We’re streamlining the quote to bind processes with prefills to save time and energy. We believe all interactions with consumers should be delightful so we will be looking at innovative and secure ways to allow a consumer to get a quote with minimum keystrokes and a couple minutes of time. We will bring change to the industry with innovation — along with bringing some fun and engagement to insurance.  And we won’t stop there. 

Insurance is not something most people enjoy purchasing. That’s why a key to disruption will include a great consumer experience that provides simplicity, improved service, and faster processing times. Behind the scenes, we will have a better use of data and analytics, as well as blockchain in the future, to reduce risk and automate claims processing to satisfy the consumer while also reducing cost and fraud. 

We’re not your parents’ insurance company, we’re the insurance company for a whole new generation.