Allegory is a technology company that helps users with any type of mobility (car, motorcycle, e-scooter) to travel safely. Soon, we’ll provide the best and the most affordable insurance coverage in return.
While our mission is to make our communities a safer place to live, we can’t achieve this just by having a smartphone application. We believe that we can, and we should, do more. That’s why we work with non-profit organizations to help to reduce carbon emissions by planting trees around the world. Since the most significant part of our customer base drives a car everyday, we see this as our obligation. And we pledge to do our part.
According to multiple studies on this subject, burning one litre of gasoline produces approximately 5.07 pounds (2.3 kg) of carbon dioxide(CO2). At the same time, a mature tree absorbs CO2 at a rate of 48 pounds (21.7kg) per year. Therefore, if we assume the average Canadian vehicle burns 2,000L of gasoline every year, a car that consumes 9 L of gas per 100 km would get a driver roughly 22,200 km per year. This amount of combustion would cause 4,600kg of CO2 emission. In other words, the average driver puts 1 kilogram of CO2 per4.83 km driven into the atmosphere.
At Allegory, we make money through subscriptions and other services purchased through the Allegory App. If you are a car driver, we pledge to cover your first 100 km driven carbon offset cost with Allegory from the money we make through our services. We donate one tree per user to achieve this, which absorbs approximately 21.7 kg of CO2 per year.
But is it enough? We don’t think it is.
Regularly, we meet other industry leaders and companies to discuss what else we can do together. Change is never easy, but it can be easier if we all work together. That’s why we urge others to help us achieve the following items as well.
We can digitize many insurance documents. However, it is still common to send or receive paper applications or use paper in internal communications. On the other hand, some regulations still compel industry stakeholders to use physical forms. We can change this.
Encourage “Green” Behaviours
Discounts are usually the most effective way to acquire new customers. But we can also use it as an effective way to encourage our customers to choose environmentally friendly options. For example, discounts for electric vehicles (EV) and rewarding behaviours (e.g. better driving could reduce fuel consumption, hence emissions, by up to 15%) are just two things that can drive positive change.
Claims Handling and Insurance Underwriting
Effective claims management is essential, but no more essential than a healthy environment. For example, we can scrutinize the use of heavy pollutants in repair shops and incentivize parties to adopt better solutions. Moreover, we can reject underwriting any polluting projects, refusing to provide insurance coverage for them.
This world is ours. And now is the time to show our appreciation for our beautiful earth.