ATG Clearinghouse and Azuga Announce Data-Access Agreement to Drive Usage-Based Insurance (UBI) Growth
Dublin, OH and San Jose, CA (PRWEB) April 11, 2017 -- ATG Risk Solutions, creators of the FAIR Score® safe driving index and the first telematics data clearinghouse to enable usage-based insurance (UBI) programs for auto insurance carriers, announced today its data sharing agreement with Azuga. The leading global provider of connected vehicle technology services will help spur the growth of UBI-based risk management, precision underwriting and loss prevention programs across the auto insurance industry.
“We are extremely pleased to welcome Azuga into the ATG Clearinghouse as one of our premier-level telematics data partners,” said ATG Risk Solutions founder and president, Chris Carver. “Azuga’s participation in the Clearinghouse underscores its commitment to providing its fleet customers with a best-in-class service, access to insurance benefits and a solid, ongoing return on their investment in telematics.”
Insurance carriers in the $36+ billion annual North American commercial auto market are projected to lose $2 billion this year on the policies they write thanks to increases in auto claims frequency and severity. With telematics driving data, insurance carriers and their fleet customers can easily identify behaviors that increase risk and give users tools to reduce it, all while helping restore insurance carriers to profitability.
"Insurers are turning to the ATG Clearinghouse for data from innovative telematics and fleet management service providers such as Azuga to arm them with the contextual driving information necessary for more accurate risk assessment and more consistent auto policy rating and pricing. In fact, industry analysts Berg Insights predict that this trend will continue industry wide with the total number of UBI policies in force in North America climbing from an estimated 6.3 million policies at the end of 2015 to 42.1 million policies by 2020,” noted Carver.
With the world’s largest telematics vehicle database, the ATG Clearinghouse allows vehicle insurers to access and verify vehicle information, driving analytics and detailed data on how, where and when vehicles are being driven to enhance their underwriting and ratings processes. By participating in the Clearinghouse, Azuga and other telematics service providers (TSPs) monetize the data they collect on behalf of fleet customers and those customers, in turn, can access potential insurance savings and benefits.
“Azuga pioneered social telematics, a rewards-driven approach that builds engagement among workers being tracked by applying gamification to safe driving. The resulting competition reduces risk,” said Ananth Rani, Azuga co-founder and CEO. “As a data supplier to the ATG Clearinghouse and the UBI programs it enables, Azuga is now playing an even larger risk management role in helping fleet customers identify and reduce dangerous driving behaviors before they lead to collisions, injuries and claims. We are excited to be at the leading edge of this revolution in social telematics and commercial auto insurance.”
To learn more about ATG Risk Solutions click here. To learn more about Azuga’s insurance telematics offering click here or visit them at booth 757 for a demonstration of its leading technology during RIMS annual conference and exhibition (April 23-26).
# # #
About Azuga
Azuga is a leading global connected vehicle platform, utilizing rich and real-time vehicle data to improve operations and safety while reducing cost and risk. Azuga provides reliable end-to-end solutions for commercial fleets, government agencies, insurance companies and automotive industry suppliers, through leading hardware technology, the Azuga One platform, SaaS applications, and data analytics. Award-winning Azuga Fleet is used in organizations of all sizes—from the small fleet of a few vehicles up to several thousand—and is lauded by our customers for its ease-of-use, robust features and affordable pricing. For more information, visit http://www.azuga.com.
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 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) provides a contextual view of how a fleet is performing in comparison to other fleets, by class and territory, taking into consideration such factors as road use, traffic, weather, collision reports, road maintenance and other environmental and operational data. The ATG Clearinghouse offers 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 increase operational safety, access insurance benefits and lower overall insurance costs. For more information, please visit http://www.atgrisk.com.
FAIR Score is a registered trademark and ATG Risk Solutions is a trademark of Maris Ltd. dba ATG Risk Solutions.
Blair Broussard, AR|PR, http://www.arpr.com, +1 504.208.2655, [email protected]
Share this article