App that gives lower insurance premiums and lower carbon dioxide emissions

The digital solution Enerfy calculates the driver's risk in real time while driving and sets the car insurance premium based on how the driver is actually driving. Greater Than's unique AI solution can transform the entire insurance industry, and lead to a substantial reduction in carbon dioxide emissions at the same time.

Enerfy is an app that is linked to car insurance. It helps the driver of the car to improve his/her driving behaviour in order to drive in a smarter, safer and more environmentally friendly manner, which means that a good driver has lower car insurance premiums. At the same time, this reduces claims to insurance companies, and the environmentally friendly driving means a reduction in carbon dioxide emissions.  

The technology can be linked to all cars from 2001 onwards. In addition to this, a normal smartphone is all that's needed to download the app. The insurance companies can also add their own name to the product.  

− It only takes a week to implement our technology and platform. There is no need for integration with the other IT systems at the companies. In this way, the insurance companies can focus on their core business and we will take care of the technology, says Liselott Johansson, CEO at Greater Than.  

The app also contains a range of additional services, such as tips on how to improve your driving next time and your own driving characteristics. The product is also designed so that you can compete with other drivers to drive as safely and as energy smart as possible.    

Great opportunity for global influence on emissions reduction

Using Greater Than's technology leads to a reduction in the frequency of claims by 38 per cent for insurance companies, while climate emissions are reduced by 17 per cent per driver, according to the company's own calculations. Combining these figures for the entire market will result in significantly positive effects.  

If this insurance solution were to be implemented globally, it would mean an emissions reduction of 80 million tonnes of carbon dioxide per year, according to estimates from the World Wildlife Fund and the Swedish Energy Agency. As a comparison, the total annual carbon dioxide emissions in Sweden are just over 50 million tonnes.  

What is unique about Greater Than's solution is that it is the first in the world to use Artificial Intelligence (AI) for such a solution, that is, collecting and processing data from previous driving that the system can draw conclusions from.  

− We have collected data from over 5 billion kilometres of driving in 23 countries, and we have over 300 million measuring points in the system, which makes our solution very comprehensive. On the basis of these data, our system can calculate the risk based on so-called 'machine learning'. The system is self-learning and becomes further refined every second and kilometre our users drive, says Liselott Johansson, CEO at Greater Than.    

Support from the Swedish Energy Agency to enter the market

For 14 years, the company has collected data, fine-tuned the tool and made preparations for the market, which have included support from the Swedish Energy Agency, which invested SEK 5 million in development support in 2014. Now Greater Than has secured the technology and AI solution with seven patents.  

Greater Than became a publicly quoted company in 2014 and is now collaborating with some of the largest insurance companies in the majority of the Nordic countries, including Moderna Försäkringar in Sweden, Tryg Denmark and Tryg Norway. Now, the next step awaits.  

− Now Greater Than is investing in several international markets. At the Swedish Energy Agency, we consider this a good example of a Swedish innovation that contributes to meeting the global challenge of climate change after a little support us, says Sasan Shaba, Portfolio Developer at the Swedish Energy Agency.

Contributes to following energy and climate goal

This project contributes to the Swedish goal zero net emissions of greenhouse gases by 2045.

About Greater Than

Innovation: Enerfy, which uses AI-based car insurance in order to reduce the frequency of claims, together with drivers driving in a more environmentally-friendly manner, which saves carbon dioxide emissions. The car driver has the opportunity to have a lower insurance premium.

About the company: Greater Than started selling services in the Nordic market in 2017, and is now collaborating with Moderna Försäkringar, Tryg Norway, Tryg Denmark and LähiTapiola. Became a publicly quoted company on Aktietorget in 2014 and Nasdaq First North in 2017.

Investors: Holmgren Group AB, Handelsbanken, Mangold Fondkommission together with other private investors.

Nominations: Climate Solver, Rushlight Clean Energy Award, E-Prize Sustainable Transport, Rushlight Powered Transport Award, Top 10 Cleantech Scandinavia.