Toyota’s $1B Investment in Ride Hailer Grab Opens Door to Data-Driven Insurance

216

By pumping $ 1 billion to passenger car rental company Grab, Toyota Motor Corp shows how fast it travels, how far it travels, and how much time it takes to get a passenger-side view of thousands of vehicles in Southeast Asia. traffic.

The Japanese car maker said it was aiming to build the TransLog driving recorders into Grab’s rental car fleet.

“Companies that just want to ride have a good and comprehensive range of use, so automakers want to be connected with it,” says Egil Juliussen, director of research for automotive information and advanced driver support systems at IHS Markit.

Grab watches drivers driving their way through their own application to increase driving safety, send speed and braking emails to drivers such as Rennu Mahajan in Singapore.

“This system keeps me under control,” said Mahajan, 57.

Since 2016, TransLog will acquire even more vehicle data with Toyota, collecting data and collecting data with car-driver operators including taxi companies and Grab. The data provides insight into Toyota’s fleet management while developing services, including futuristic concepts such as pay-per-use mobile restaurants.

The last deal announced last week gives Toyota access to a single pool of vehicles that leaves all the potential in the shade. This will allow a data volume, which is difficult to collect from private vehicles, to be used for routine tasks, usually less than 5 percent of any day.

In turn, Grab can use Toyota’s $ 1 billion investment to enhance services such as food distribution and digital payments. This will be the largest of the traditional car makers in a driving-sharing application maker.

Sponsorship: insurance news. You deserve to upgrade. Go Pro! ıjpro. Insurance news for steroids.
The deal reflects how automakers are making compelling calls for access to the busy user base of passengers through a network of partnerships, as they compete with technology companies to develop broader automobiles and next-generation transportation services.

Toyota’s vision of these services includes the con- venience of self-propelled multi-purpose vehicles on the size of the service bus, which is used as pay-per-use mobile restaurants and catering, for example, where the otokar maker plans to develop and customize for retail customers.

“There are bus-related data, and then there’s data about the service – how many customer drivers are available, where the average path is concentrated,” said Juliussen. “It is very valuable to see this picture in all the major (Southeast Asia) cities.”

Toyota and Grab will be able to use data for possible collaboration on data-oriented services such as vehicle diagnosis and customized insurance schemes based on driver use.

The data will also help Grab maintain efficiency in fleet maintenance, while spreading to a wider area in Southeast Asia operating in more than 200 cities. He said he wanted to build the region’s largest rental car fleet in the fourth quarter of 2018.

“Vehicle maintenance costs, insurance costs, these are bread and butter issues for drivers who want to ride,” says Chua Kee Lock, chief executive of Vertex Venture Holdings in Singapore, an early Grab investor.

Industry experts say Toyota could expand its data service to more mobility companies like Didi Chuxing, Uber Technologies Inc. and Amazon.com Inc.

“This Toyota partnership will keep Grab’s platform” sticky “and give drivers less incentive to move to their opponents,” he said. “This is the long edge of Grab’s edge.”

Legal warning !
The information, comments and suggestions there are not covered by investment advice. It is based on the author's personal opinions. These views may not fit your financial situation and risk and return preferences. For this reason, based solely on this information, investment decisions may not have the appropriate consequences for your expectation. Our Site is not responsible for any direct or indirect damages incurred by the investors as a result of the use of the information on the Site, deficiencies in the sources, damages incurred by profit, moral damages, or damage to third parties.