- Fobi AI (FOBI) has announced an annual license renewal with one of the world’s leading insurance providers
- Fobi’s Wallet Pass platform enables the client to issue digital proof of insurance passes for its insurance offerings across five European countries
- Drivers involved in an accident can open their wallet passes to exchange information following an accident and scan the pass’ QR code, allowing the drivers’ information to be sent to their insurance company
- Fobi AI is a data intelligence company that turns real-time data into actionable insights and personalized customer engagement
- Fobi AI Stock (FOBI) opened trading at C$0.34
Fobi AI (FOBI) has announced an annual license renewal with one of the world’s leading insurance providers.
Fobi will earn $260,000 in revenue as per the contract’s renewable terms.
Fobi’s Wallet Pass platform enables the client to issue digital proof of insurance passes for its insurance offerings across five countries in Europe.
Fobi continues to not only power four of the top ten global insurance companies but is now becoming a leading provider to the insurance industry, with over 15 insurance customers in total.
With the convenience of a mobile phone, drivers can simply open their wallet passes to exchange information following an accident. Smartphone cameras can also be used to scan the pass’ QR code, and the drivers’ information is automatically sent to their insurance company to speed up claims processing.
The insurance client specifically chose Fobi to provide its service for many different purposes, all of which are also reasons why they structured an auto-renewal of their contract. The insurance provider recognized that Fobi’s combination of features and functionality differentiated its offering from any other solution in the market. Another key reason for their selection was because of the critical requirement of data privacy, protection, and compliance in the insurance industry. Since Fobi is GDPR compliant and operates the client’s Wallet Pass platform on a dedicated instance in the Google Cloud, the partnership opportunity is a perfect fit. Three different business units within the client’s organization have already built API integrations with the Fobi Wallet Pass platform, demonstrating their long-term commitment to the solution.
”Fobi’s Passcreator Wallet Pass platform is becoming the industry standard for digital proof of insurance, which is why we are so pleased to announce this renewal,” said David Sporer, Managing Director of Passcreator by Fobi.
“Digital proof of insurance makes for a great customer experience but is also incredibly easy for insurance companies to manage. Insurers gain the ability to turn passes on and off remotely and can additionally use them to directly communicate with their customers about renewals or complementary services that may be of interest.”
Rob Anson, CEO of Fobi, added,
“This deal not only solidifies our position as a leading digital wallet pass provider as we power four of the world’s largest insurance companies, but it gives us tremendous confidence as we are not only continuing to win new business, but we have now 100% success in customer retention and to me that says it all. The release of this news is well timed for us as we are now benefiting from the result of our successes in Europe here in North America, where insurance companies are now expressing great interest in our digital proof of insurance offering.”
Fobi is a data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.