AXA joins hands with Chung Shing Taxi and TaxiSafely to launch groundbreaking Internet of Vehicles project

Hong Kong's first insurer x taxi company collaborationto deploy innovative technology to enhance road safety

HONG KONG,Oct. 26,2022 -- AXA Hong Kong and Macau (AXA) today announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong's first Internet of Vehicles (IoV) project collaborated by insurer and taxi company[1]. With the use of innovative technology,the collaboration aims to enhance taxi driving safety and protect taxi drivers,passengers,and other road users.

AXA Hong Kong and Macau (AXA) today announced the partnership with Chung Shing Taxi and TaxiSafely to jointly launch an innovative Internet of Vehicles (IoV) project. (From left to right) Kenneth Lai,Chief General Insurance Officer,AXA Hong Kong and Macau,Sally Wan,Chief Executive Officer of AXA Greater China,Sonia Cheng,Executive Director of Chung Shing Taxi and the Founder of SynCab,and Antonio Wong,Founder and Chief Executive Officer of TaxiSafely.

In this remarkable partnership,50 taxis from SynCab and Chung Shing Taxi will be the first to install TaxiSafely's telematics device. Equipped with a unique high-sensitivity duo lens,the detection device provides real-time monitoring of road conditions with a 3D lens,accurate detection of obstacles,and advises taxi drivers immediately on the high-risk precautions to avoid accidents,for example,distance to the vehicle ahead,as well as tangent drive.

AXA and Chung Shing Taxi will review and analyse the collected data regularly to assess the driving safety of the taxi fleet. Moreover,the data enables AXA to determine the insurance premiums based on the actual driving performance of taxi fleet,the past underwriting and claims records and provide premium discounts to those taxi fleets with good driving records,ensuring fair treatment especially for drivers with good driving performance and enhancing awareness on driving safety among taxi drivers.

Sally Wan,Chief Executive Officer,AXA Greater China,said,"AXA is deeply committed to fostering sustainability in Hong Kong. We are honoured to partner with Chung Shing Taxi and TaxiSafely to launch this innovative project,making a contribution to Hong Kong's development of smart city and improvement of road safety. This brings to life AXA's purpose - act for human progress by protecting what matters. Taxis play an important role in public transportation. We believe this partnership will benefit taxi drivers,all road users and also inspire other like-minded companies to join forces to improve overall road safety for the community."

Sonia Cheng,Executive Director of Chung Shing Taxi and the Founder of SynCab,"By collaborating with AXA and TaxiSafely,we look forward to best utilising data science to effectively enhance the safety standards of the taxi industry,and give greater peace of mind to taxi passengers. With the precise devices and data analysis,drivers from Chung Shing Taxi will not only enjoy more comprehensive protection,but also bring greater confidence to our passengers. We sincerely hope that the programme can be extended to more taxi fleets."

Antonio Wong,Founder and Chief Executive Officer of TaxiSafely,"With the support of Cyberport,we have established Hong Kong's first telematics company focusing on taxi driving safety. We are honoured to collaborate with AXA and Chung Shing Taxi,the collaboration demonstrates a more extensive use of our solution in a wider range of everyday transportations. Through this collaboration,we wish to leverage our unique driving safety solution specially designed for roads in Hong Kong to enhance the overall driving safety and awareness of professional drivers,and in turn improve general road safety."

The telematics solution invented by TaxiSafely will collect and transmit the data through 4G to an encrypted cloud system and undergo big data analysis which tracks individual driver's behaviour and performance. The solution will also provide traffic black spot reports and recommendations for improvement for drivers based on their driving behaviors,which aims to optimise the overall fleet performance.

[1]As of 26 October 2022

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group,a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life,Health and General Insurance,our goal is to be the insurance and holistic wellness partner to the individuals,businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment,which is achieved through actively listening to our customers and leveraging technology and digital transformation.

About Chung Shing Taxi Limited

Chung Shing Taxi Limited is one of the lead players in the Hong Kong taxi industry. Since its establishment in 1976,Chung Shing Taxi has seen rapid growth while transforming taxi services in Hong Kong. Its diversified services span taxi rental management,taxi repair and maintenance,and driver training. In 2010,Chung Shing Taxi spun off its businesses and set up Chung Shing Motor Repairing Centre Limited to provide 24-hour taxi maintenance and repair services,and established Chung Shing Taxi Management Limited. In 2015,the company launched SynCab,Hong Kong's first multi-purpose taxi fleet,which has won numerous awards and top recognitions over the years.

About TaxiSafely

TaxiSafely is a Hong Kong-based technology company with a mission to protect taxi drivers,passengers and vehicle assets. TaxiSafely deploys proprietary AI algorithm to analyze images of objects captured by its market leading dual lens sensory systems. A solution with highly configurable parameter setting and ability to directly capturing of vehicle information from the taxi's on-board computer system,TaxiSafely provides real-time alerts to taxi drivers in the critical seconds leading up to a potential traffic incident to allow taxi drivers to take immediate and according actions. Off the road,TaxiSafely also provide fleet owners with actionable data reported via platform and dashboards to enable fleet performance optimization.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

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