“The connected diagnostics platform has been branded ‘Drivenostics’. It offers customers the choice to diagnose their cars and is available across 1,000 outlets, allowing for a live health record of the vehicle,” Ki Mobility’s managing director G Srinivasa Raghavan told ET. “We call the service model the uberisation of service for a modern, on-demand approach to vehicle repair.”
While the product is currently free for customers, soon the company will look to monetise it. The addressable market for the service is estimated to be 10-12 million vehicles for starters, with a specific focus on those vehicles that are 4-meters and above in length.
“The plan is to eventually provide this data to third parties like insurance agencies as well," said Raghavan. “We work with around 23 insurance companies. Very soon we will be launching myTVS specific insurance in collaboration with an insurance partner and the diagnostics platform will be the built-in product for that."
He said all the recommendations, including how to bring down the cost of repair, improve asset quality or even the resale value of the car, are invaluable for insurance companies as they can reduce the cost of ownership of the vehicle.
Seeing the value that the solution can provide, the company is also piloting projects in the UK and Turkey to take the AI-led diagnostics platform to a thriving commercial vehicle market.
“We are doing pilots currently in the UK and Turkey for commercial vehicle fleets in particular,” Raghavan said. “We see a significant opportunity for this if the pilot is successful in the European region as it is a big commercial vehicle market. We will be observing how things progress till March and potentially scale it up next year.”
He said if the pilot is successful, it would open up an avenue of opportunity like IT outsourcing did for aftermarket vehicle management.
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