Vehicle Technology

A Connected License Plate Gives Peace of Mind and Eases Insurance Processes

This interview is an excerpt from a story that originally appeared in It Is Innovation (i3) magazine, published by the Consumer Technology Association (CTA)®.

Overview Huecore Founder and CEO Joël Reyes developed a connected car platform that provides insurers with the data the need to identify real risk exposure, improve underwriting and shorten claims processing.

Reyes spoke about Huecore, a CES 2019 exhibiting company, and how owners of 267 million disconnected vehicles — that is, not smart cars — can use the technology for peace of mind.  

What inspired you to create the company?

I was living in Manhattan, and one night I parked my car on the street. The next morning as I walked to my car, I noticed that someone smashed into it. To my surprise, whoever hit the car had taken off without leaving a note and left behind $6,000 worth of damages.

I started looking for solutions that could be placed discreetly on my vehicle without obstructing its look and feel. When I realized there wasn’t a product available, I decided to develop a technology to protect my vehicle and my peace of mind.

Now a year and a half later, with Huecore, we have a product that is valuable to drivers and insurance companies alike.

How does the product work?

Huecore is the technology hub delivering advanced features for consumers, facilitating integrations to smart city initiatives, and providing insurers with enriched, granular data.

The primary consumer product that connects to and provides vehicle data to Huecore is our SmartFrames product. SmartFrames is a connected smart license plate that introduces all the necessary elements for advanced, connected features on otherwise disconnected vehicles.

Consumers enjoy an extra layer of protection and peace of mind with features like parked vehicle protection and the ability to generate a policy report and easily file an insurance claim directly through the mobile app.

On the insurance provider side, Huecore processes the vehicle data and feeds information to our proprietary provider platform called Insurtech. Insurers can access enhanced telematics, IoT and mobile-generated data to identify real risk exposure, based on the individual’s precise driving behaviors.

Benefits include streamlining the claims processes, improving underwriting, and enabling insurers to offer more accurate and competitively priced premiums to drivers.

Read the full interview with Reyes in i3 magazine.

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It Is Innovation (i3) magazine, the flagship magazine from the Consumer Technology Association (CTA)®, focuses on innovation in technology, policy and business as well as the entrepreneurs, industry leaders and startups that grow the consumer technology industry.

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