Peregrine Technologies: puts the insurer in the passenger seat with real-time video analytics
Peregrine Technologies is a Berlin-based AI technology company that is improving road safety and minimizing CO2 emissions from transportation in cities. By deriving video context from real-time traffic scene imagery, they deliver a data set for digital insurance and transportation services.
Peregrine’s value proposition for insurers is rooted in utilizing visual context and data to rethink commercial fleet insurance. Commercial fleets have been growing at impressive rates that will continue to increase in the coming years as new mobility services are launched. Processing visual data from vehicles through their platform provides more reliable risk assessments, adds certainty, and provides insights that simulate insurers accompanying drivers on every trip. The in-car warning system powered by real-time image analysis enables fleets to avoid 70% of current accidents while also driving cost savings through customizable insurance plans and price points for customers.
In a wider market context, Peregrine differentiates its technology from existing telematics offerings because it is built as an AI first, software-only company with a deep understanding of self-driving system technology. In fact, a recent benchmark with a leading insurance company showed Peregrine’s visual data holds superior information compared to GPS+IMU or ODBII based telematic systems. Overall, Peregrine offers value to insurance companies in the form of new data that enables them to build a more transparent relationship with their clients, an innovative edge to help them develop new insurance products and mobility services around real-time data (UBI), and a deeper understanding of the impact of situational awareness in motor insurance.
Currently, Peregrine has leading insurers secured as clients to work on the future of usage-based insurance and vehicle telematics and has already earned multiple awards and recognitions. Peregrine was an accelerator participant in Climate KIC and its product was selected by Munich Re and ERGO insurance as a “promising technology to have a positive impact on reducing CO2 emissions of the future mobility” (EU Horizon 2020 funded).
How it works
Why we selected Peregrine for DIA Munich
Peregrine’s technology incorporates itself into people’s lives through a car dashcam that analyzes visual input in real-time in order to provide instant feedback for drivers as well as insurers. This technology instantaneously brings invaluable information collected from drivers to the market, delivering superior data sets for digital insurance and transportation services.
At DIA Munich Dr. Steffen Heinrich, CEO & Founder and Jorit J. K. Schmelzle, CPO & Founder demonstrated how the technology works and explained its real-life implications.
Check out their live demo here:
Who is Peregrine Technologies?
Peregrine Technologies was established in Berlin, Germany in January of 2019 by co-founders Dr. Steffen Heinrich, Dr. Naja von Schmude, and Jorit J.K. Schmelzle. Together, the founders have almost 20 years of hands-on experience in robotics and autonomous driving through working for companies and research facilities in Silicon Valley and Germany.
Peregrine operates under the advisory of experienced deep tech entrepreneurs and gained investors through a successful pre-seed round with Business Angels who possess extensive industry expertise. The Peregrine Data Suite of Services has been successfully benchmarked by a leading German insurance company against their state of the art telematic application. The company recently deployed its embedded software into fleet vehicles and has begun collecting non-personal data sets. Additionally, Peregrine has been accepted to many investment and startup programs, has attended and presented at ample industry conferences, and is set to begin its “Early Access Program” with corporate participants already secured.
“Street-level video analytics creates a form of situational awareness that will play an important role in the mobility transformation. At Peregrine, we aim to make transportation safer and cleaner with technology that works in every vehicle.” Dr. Steffen Heinrich, CEO & Founder
Dr. Naja v. Schmude, CTO & Founder (left)
Dr. Steffen Heinrich, CEO & Founder (center)
Jorit J. K. Schmelzle, CPO & Founder (right)