The automotive industry faces significant challenges such as rising demands for personalized products and experiences, strict quality standards, and lower operating costs. Companies must reduce manufacturing costs and improve customer service, supply chain management, marketing and sales management, and overall business process automation due to the fierce competition in this industry.

Binary's automotive industry-specific solutions offer a range of products and support to meet your business needs.

The emerging Scenario in Automotive Industry - The automotive manufacturers have to contend with the following- to stay abreast with the competition and the consumer expectations

  • Traditional automakers have to steadily grow their digital acts as more technology companies enter the automotive landscape, bringing advanced connected features, electrification, and autonomous driving.
  • The growing demand for advanced safety, convenience, and comfort systems, and the rising trend of vehicle electrification, are driving the growth of semiconductor content in automobiles.
  • Telematics and infotainment, powertrain, and safety are the three fastest-growing applications.

Future of connectivity via IoT

  • In the connected mobility eco-system, cars can communicate bidirectionally with a variety of other systems outside their local area network to transmit digital data to enable remote diagnostics, engine performance reports, data-only telematics, access Wi-Fi Hotspots, get turn-by-turn directions, alerts of automotive health, and directly intervene to prevent breakdowns and accidents.
  • Business agility, cloud-based solutions, and Agile development approaches are all becoming more popular as means to deliver the flexibility and on-demand scalability that today's automobile market demands.

AI/ML

  • AI-powered algorithms can be widely used in manufacturing, supply chain optimization, and automated assembly lines.
  • Not only can artificial intelligence help save money and enhance quality, but it can also help increase vehicle safety.
  • Within the developing digital world of electric vehicles, integrated digital technology in most vehicles is improving emissions, user experience, and control.

Insurance

  • Risk will be assessed using software and AI as we become more reliant on self-driving technologies.
  • Insurers will be able to estimate risk with higher accuracy using tools such as drones, satellites, and datasets.

Blockchain

  • Blockchain technology is being used by an increasing number of automobile companies to share data.
  • Mobility services and connections, such as urban transportation, ride-sharing, and deliveries, are enabled by the process.
  • The blockchain can also be used to verify an industry's supply chain.
  • Blockchain, according to industry analysts, will be utilized to enable autonomous vehicles.
  • Self-driving cars could gain better access to critical traffic data with the help of the blockchain's ledger.
  • From tolls to maintenance and insurance, blockchain technology has the potential to ease a variety of driving payment duties.

Optimize customers' digital experiences, increase revenue, and improve operational excellence with our software solutions for automotive.

VISoF Automotive OEMs

  • Automotive insurance coverage from beginning to conclusion.
  • The insurers are provided with an Omnichannel Digital Experience. Supports the Intermediaries' end-to-end automotive OEM insurance lifecycle operations, from policy issuance through post-policy actions like cancellation, endorsement, and claims.
  • Covers all types of vehicles, including cars, two-wheelers (including electric), trucks, tractors, buses, JCBs, and miscellaneous commercial vehicles.
  • This version offers a high level of scalability and reconfigurability due to its robust and scalable architecture, satisfying the day-to-day insurance management demands of individuals in the Automobile Insurance business.

B2C Corporate Affinity

  • Supports end-user insurance purchasing needs across varied categories such as Motor, Health, Life, Travel, Marine, Home, and so on, either directly through the system or via Corporate/Affinity Channels.
  • Specialized teams to ensure your portal's digital promotion.
  • Customer experience is prioritized to enable end-users to purchase insurance plans despite their lack of knowledge/awareness.

Insurance Company

  • Due to extensive domain and technical knowledge spanning over a decade, we have been able to meet all of the needs of insurance companies.
  • Dedicated to all automotive (OEM) interfaces with insurance company core/middleware systems for policy distribution and support (Claims, Cancellations, Endorsements).

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