say good-bye to the LAW OF LARGE NUMBERS 

Greater Than is a Swedish InsurTech and AI company that provides a different kind of automobile insurance policy. 

Greater Than’s technology can reduce the frequency of claims by 40%, while simultaneously lowering insurance companies’ CO2 emissions by 17%. 

In the worst case scenario, Greater Than can help reduce fuel consumption by 12%; but the best case, by 20%. Given that 10% of global emissions come from personal vehicles, Greater Than could reduce global CO2 emissions by 0.26% annually. That’s equivalent to the CO2 emissions from the consumption of more than 1.3 million tanker trucks filled with gasoline driven until their tanks are empty. 

Category 

The conventional solution is to use traditional data, and set the price for a larger number of drivers based on that group’s historical damage costs. 

Subcategory 

Greater Than operates in the subcategory of InsurTech companies hoping to make an impact with AI. By connecting to Greater Than’s AI-based risk analysis and dynamic apps, insurance company partners gain an instant, predictive view of the motorist’s risk and performance. This makes it possible to personalise insurance based on the individual driver, rather than on a pool. The product predicts risk for each individual, using driving DNA to arrive at a cost and accident ratio. With over 1 billion patterns in their database, the accuracy and immediacy of the data is incredible. 

The benefits of using Greater Than are that it’s predictive, non-partial, non-discriminating, individualised, fast-processing, and affordable. It lowers the chances of being involved in an accident by 30% and lowers the carbon footprints of motorists by up to 20%. The only down- side is that it requires data. 

Greater Than partners with Toyota and The Fédération Internationale de l’Auto- mobile (FIA) to promote road safety and eco-friendly driving. Their customers include insurance companies, car dealerships, and new mobility companies such as carpools all over Asia, Australia, New Zealand, and some parts of Europe and the USA. 

Facts 

Founded in: 2004
Founded by: Sten Forseke and Anders Lindelöf
CEO: Liselott Johansson
Headquarters: Stockholm, Sweden
Employees 2019/2021: 27/31
Listed on the Nasdaq First North Growth Market Revenue 2019: 20.4 MSEK 

Visit the website of Greater Than at: https://greaterthan.eu/