Creating Synergy Between the Insurance and Fleet Industries.
Garden Grove, CA (PRWEB) September 05, 2012
Teletrac Inc., a 24-year veteran award-winning GPS fleet automation and telematics software provider, announced its sponsorship of the Insurance Telematics USA 2012 conference taking place in Chicago from September 5-6. The conference will highlight big data strategies surrounding usage-based insurance (UBI) solutions.
Teletrac will be represented by two industry specialists that will address the relationship between the insurance and fleet industry, as well as driver liability and risk profiling.
Jon Verhaeghe, insurance telematics manager at Teletrac, will participate in a panel entitled, “Creating Synergy Between the Insurance and Fleet Industries.”
Stuart Berman, executive director of Teletrac U.K. , will be speaking at a panel entitled, “A Fresh Look at Driver Risk Profiling and Liability Assumptions Reanalyzed.”
Teletrac’s efforts in risk management technologies have been recognized by the nation’s top insurance carriers. The company provides a comprehensive UBI platform that is built alongside an award-winning fleet management solution. Some of its highlights include:
Driver Behavior Data Aggregation—Teletrac can provide additional context to driving behaviors beyond the insurer’s client set by utilizing driving data (scored across tens of thousands of vehicles).
Risk Management Platform—Teletrac has a client-facing risk management feature that lowers risk and improves loss ratios. Scoring is flexible and can be tailored to fit the insurer’s risk priorities.
Flexible Data Transfer/Processing—Insurers can receive scheduled outputs of their clients’ fleet performance data in various formats, whether through raw data or processed for events and geographical context.
Real Estate Within the Program—Insurers receive more visibility with a dedicated presence within the program. Teletrac offers our insurance partners the means to keep their brand in front of the customer on a daily basis.
Agency Program—Teletrac has a commission-based affiliate program for participating agencies that introduce our risk management program to clients and prospects.
Investing in an effective UBI program helps fleet managers identify risky drivers and allows for corrective action, according to Verhaeghe. These actions ultimately lead to safer fleets, helping insurers rehabilitate current clients. Secondly, the program allows for the harvesting of rich behavioral data which leads to the advancement of future products and risk models. While the industry is in the early stages of utilizing driving behavior data for risk assessment, initial indications suggest that such data is a game changer. The Teletrac platform provides not only a tool for proactive driver management, but the ability for the insurer to accelerate the learning curve from a data perspective.
As Verhaeghe noted, “Much of the attention around UBI programs is focused around consumer auto. The commercial auto space, however, is the lower hanging fruit with a wide adoption of telematics in the market as well as an array of value-added services that are core to many businesses.”
About Teletrac Inc.
Already proven and trusted by more than 20,000 fleets of all sizes and tracking more than 200,000 vehicles in 75 countries, Teletrac saves fleet owners time, money, and reduces their carbon footprint. Teletrac customers report up to 30% lower fuel usage, an average of 15% less driver overtime, 12% higher productivity and less unauthorized vehicle use.
Teletrac Inc. is headquartered in Garden Grove, CA.
For additional information, visit http://www.teletrac.com or contact Teletrac at 1-800-500-6009, or via email at djaconi (at) teletrac (dot) net.
SOURCE: Teletrac Inc.