Zurich has acquired 100% of HK based Bright Box and its subsidiaries. Bright Box is a telematics solutions provider that helps link drivers to their vehicles, and the vehicles to networks of car dealers and original equipment manufacturers (OEMs). The company has operations in Europe and conducts business across the globe.
This acquisition of Bright Box is presumably an attempt to increase Zurich’s connected car technology and mobility capabilities, strengthen its product proposition for car drivers and OEMs, and facilitate new insurance services on the back of telematics-enabled data analytics.
Furthermore, Zurich’s strategy is focused on providing simple and innovative products and services based on customer needs. Bright Box will help in expanding Zurich’s mobility solutions through tailored services, enhanced digital interactions, and closer collaboration with car dealers and OEMs.
Giovanni Giuliani, Group Chief Strategy, Innovation and Business Development Officer at Zurich has said of the Bright Box acquisition: “We are excited by the potential that Bright Box brings to further strengthen our offerings to car drivers and the companies that support their needs. By enhancing our capabilities in data insights and analysis, we will be able to provide our customers more tailored and convenient solutions, which is in line with our strategy.”
Customer retention by creating engaging content and functions for end-users
Artificial intelligence to predict customer behaviour, which helps in upselling at the right time
Bright Box develops all the apps, cloud back-end, hardware and machine learning algorithms by itself. This helps in launching the apps/platforms in an unbeatable time frame (approx 4 months).
The Bright Box platform is an AI-first turnkey connected car platform called Remoto, which is built on open source software hosted on the Azure platform, protected by Microsoft and with 500K connected drivers and partnerships with Toyota, Nissan and Honda, looks set to deliver the connected car.