Vienna Insurance Group (VIG) has acquired a 25% stake in Vienna-based technology company Dolphin Technologies, with the relevant agreements now signed.
With this investment, VIG is strengthening a partnership that has been in place since 2022 to drive forward AI-powered telematics within the group. Together with Dolphin, VIG aims to further expand its leading position in the use of telematics in the CEE region.
Founded in Vienna in 2001,Dolphin Technologies develops AI-powered telematics platforms and digital mobility services for insurance and automotive companies. Seven VIG companies are already using Dolphin's technology: Kooperativa in Czechia, Kooperativa in Slovakia, Compensa in Poland, Compensa in Lithuania, Union in Hungary, Omniasig in Romania, and Ray Sigorta in Türkiye.
Gábor Lehel, member of the managing board and chief innovation officer of Vienna Insurance Group, said the decision reflected more than Dolphin's technology alone.
"The decision to choose Dolphin as a partner for the implementation and phased roll-out across our markets was not based solely on its mature technology and ease of use for users. It is also the high level of flexibility and the consideration given to the individual requirements of the countries and our companies that have prompted us to take this stake and enable us to further intensify our digital service concepts," said Lehel.
The completion of the stake acquisition remains subject to the necessary approval by the Federal Competition Authority.
The telematics solution can be integrated into existing customer apps and adapted to local market, product, and regulatory requirements. Depending on the service offered, customers receive information on their driving behaviour, tips for safer and more environmentally friendly driving, as well as access to assistance and emergency functions. Responsible driving behaviour can also be linked to cashback or bonus rewards.
Telematics for the insurance sector is also increasingly evolving from the mere collection of driving data into a tool for prevention, risk management, and customer service. Dolphin has many years' experience in data science, machine learning, and predictive analytics of mobility data, and the insights gained can help further develop risk and prevention models and enable new digital services.
Harald Trautsch, founder and chief executive officer of Dolphin Technologies, said the investment marked a logical next step.
"This investment is a strong sign of confidence in us and the logical next step in a partnership that has already proven its worth in seven markets. With its strong presence in CEE and its decentralised business model, VIG offers excellent conditions for rolling out successful solutions in further markets and thereby creating tangible benefits for more customers," said Trautsch.
