Automotive data startup Wejo announced it has joined forces with Microsoft, Palantir and Sompo Holdings on a new connected vehicle data project.
Wejo said in a Tuesday (June 29) news release that the three companies will help it reach its vision of “building the manufacturer-agnostic industry standard in connected vehicle data” for markets that include automotive, smart city, fleet, insurance, mobility and payments.
The agreement will see Manchester, England-based Wejo using Microsoft’s Azure cloud platform to build its suite of data and intelligence solutions.
“By combining forces, the two organizations will unlock the power of connected vehicle data – providing customers with greater value, at scale and across multiple industries, while demonstrating a shared respect for and total commitment to data privacy and security,” Wejo said in the news release.
Some initial applications from this work include traffic and insurance solutions, remote diagnostics, integrated payments, advertising, retail and logistics, as well as the possible use of Wejo for in Microsoft mapping solutions.
“Connected vehicle data creates the potential to drive broad transformation across industries,” said Sanjay Ravi, general manager of automotive, mobility and transportation industries, Microsoft. “With Wejo’s extensive and growing data assets on Azure, together we have the opportunity to help customers make better business decisions, provide differentiated customer experiences, find new revenue streams and drive future innovation.”
This push for more connected cars is happening at a time when car buyers are becoming more connected. As PYMNTS reported in April, car sales increased during the COVID pandemic, as people moved away from cities, ridesharing, ride-hailing and public transit.
Meanwhile, Wejo said its partnership with the insurance provider Sompo and Palantir creates the opportunity for connected vehicle data in the Japanese market while also allowing Wejo to expand into the broader Asia-Pacific market. Sompo will use Palantir’s Foundry platform to analyze connected vehicle data from Wejo.