ATG Risk Solutions, creators of the FAIR™ Score a safe driving index, and the first telematics data clearinghouse to enable usage-based insurance (UBI) programs
ATG facilitates the exchange of data between Telematics Service Providers and their business fleet customers’ insurance carriers in a unique data clearinghouse that is shaping the future of auto insurance.
Seattle, WA (PRWEB) April 09, 2015
Maris Ltd., dba ATG Risk Solutions (ATG), creators of the first telematics data clearinghouse to enable and inform usage-based insurance (UBI) programs for auto insurance carriers, announced today that it has closed its Seed Series investment round, securing funding for the commercial launch of the Seattle-based, early-stage technology company focused on data acquisition, security, management and predictive analytics.
ATG’s telematics data clearinghouse allows auto insurers to access and verify detailed driving analytics to enhance and automate their underwriting and ratings processes. With the world’s largest commercial vehicle telematics-insurance database, the ATG Clearinghouse serves as a secure and trusted repository of detailed data on how, where and when vehicles are being driven – more than 25 billion miles of real-world driving experience, and growing. By participating in the Clearinghouse, telematics service provider fleet management companies and vehicle OEM’s are able to monetize the data they collect on behalf of business auto customers and fleet clients. Fleets of any size can now easily access policy credits by authorizing the sharing of operational data.
“We are extremely pleased to announce that our Seed Series investment round was over-subscribed,” said Chris Carver, ATG Risk Solutions’ President and Founder. “Joining the Alliance of Angels in this funding round is Motor Information Systems, a Division of Hearst Business Media, who were looking for innovation within the telematics and financial services data analytics space. The vital support of these organizations and our soon to be announced insurance partners validates our Platform-as-a-Service business model. We believe that data analytics will drive sweeping changes in how auto insurance policies are rated and priced, how road use charges are calculated and applied, and how transportation systems are designed and managed in the 21st century.”
ATG aggregates, normalizes and analyzes vehicle usage and the driving environment data from many sources, including telematics service provider companies, state departments of transportation, self-insured fleets, collision data, traffic services and others. The resultant data, formatted to open standards, along with ATG proprietary analytics, are applied to underwriting, actuarial research, loss prevention and claims management services for property-casualty insurance companies and fleet risk managers.
“We are excited by what ATG is doing in the analytics space,” said Kevin Carr, President of Motor Information Systems, a Division of Hearst Business Media. “They have tapped into a technology vein with connected vehicle data analytics that is poised for growth over the next several years with innovative insurance carriers, and as a profit center for telematics service providers. Auto manufacturers’ emphasis on connectivity will open up new opportunities for independent data clearinghouses who can help others access, analyze and make sense of the volumes of data flowing through the automobile of the future.”
About ATG Risk Solutions:
ATG Risk Solutions (ATG) is the leading provider of connected vehicle data and proprietary vehicle safety scoring resources for underwriting and claims for the property and casualty (P&C) insurance industry. The company facilitates the exchange of data between Telematics Service Providers (TSPs) and their business fleet customers’ insurance carriers in a unique data clearinghouse that is shaping the future of auto insurance. The ATG FAIR™ Score (Forward Assessment of Indexed Risk) offers a detailed analysis of a fleet’s driving safety record, within the context of the driven environment, and a comparison to fleets of similar classification, size, territory and operation. The ATG Clearinghouse serves a trusted and secure means by which the insurer can verify and assess the risk of covered vehicles in a policyholder’s fleet, helping insurers improve underwriting consistency, and helping fleet customers access insurance benefits. For more information, please visit http://www.atgrisk.com.
# # #
Copyright © 2015 Maris Ltd. dba ATG Risk Solutions FAIR Score and ATG Risk are trademarks of Maris Ltd. dba ATG Risk Solutions.
