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Jan 07, 2017
Telematics for Insurance
Through the combination of innovative telematics and big data analytics, Trakm8 maintains itself as an industry leading provider to the fleet management, insurance and logistics sectors. As a trusted manufacturer of telematics products and solutions, the company own the complete end-to-end solution, from the design and development to the production of their hardware and software products. These solutions are delivered to a number of well recognised corporate clients such as the AA, Direct Line Group, and Saint Gobain, as well as through a network of distributors.
Trakm8s telematic offerings are dramatically enhanced bymarket leading dash cam technology; not only giving customersthe ability to protect themselves against the financial andadministrative risks posed by fraudulent insurance claims but also to assess driver behaviour and use big data to assist in driver training exercises. Revolutionary route optimisation andscheduling algorithms are integrated into Trakm8s solutionsto automate and streamline a customers processes, to further increase efficiencies.
Introduction to Telematics for Insurance
Over 50% of the public have considered telematics insurance policies and saving money remains the biggest factor when optingto install a black box in their vehicle. Trakm8 provides insurers with the most accurate driver data available, ensuring that they areable to offer competitive and relative premiums to their customers, whilst giving the best value for money.
Trakm8 supplies major insurance companies, such as Direct Line, Churchill, and Young Marmalade with the most pioneering rangeof hardware and software available on the market to date. Intelligent technology, which boasts the Made in Britain marque, paired with a friendly, UK based customer support structure, makes it is easier than ever for insurers to provide enhanced customer propositions.
To find out more information on how Trakm8s Telematics for Insurance solution can benefit your organisation, contact us on 0330 333 4120 or visit www.trakm8.com
It is vital that insurers are able to identify the policyholders that pose the highest level of risk and those most likely to be involvedin a road traffic accident.
By using intricate telematics data, insurers can utilise driver behaviour information to accurately profile their customers and adjustthe premiums accordingly as a reward for safe and efficient driving.
Trakm8 works alongside insurance companies to ensure that our complex algorithms suit their driver profiling needs and bydisplaying a wealth of data in an easy to interpret manner. Our driver behaviour algorithm collects data such as harsh acceleration,cornering, braking and hours of use. This is then used to create a score from 1 to 100 which the driver can monitor via a mobilefriendly one touch app. Bespoke solutions can be tailored to the insurers needs, for example through the offering of tips toimprove the driving behaviour of policy holders, providing data in the event of an accident or First Notification of Loss.
Driver Scoring Services
To find out more information on how Trakm8s Driver Scoring Services solution can benefit your organisation, contact us on 0330 333 4120 or visit www.trakm8.com
First Notification of Loss
Trakm8s innovative First Notification of Loss (FNOL) and crash algorithms enable a two part process to be achieved when a potential incident has occurred. Instead of clients contacting the claims centre with the notification of an accident, the insurer can be proactive with FNOL alerts. This allows the claims process to begin instantaneously whilst reducing costs and offering an improved customer experience. The first step, FNOL, will send an alert in real time detailing an incident.
Using the above data Trakm8 has devised a probability score giving the claims management department the opportunity to either defend or admit fault therefore reducing administration time and the associated costs.
To find out more information on how Trakm8s First Notification of Loss solution can benefit your organisation, contact us on 0330 333 4120 or visit www.trakm8.com
The second step of the process is the collection and analysis of the accident data. This data includes:
Policy details Weather Road conditions Speed limit
Historical driver behaviour data Road map of the incident Journey replay of point of incident Third party information
Fulfilment and Logistics
Trakm8 provides a complete in-house fulfilment, logistics and customer support service which enables insurers to confidentlydeliver mass deployment schemes. The self-install white labelled solution comes with all of the conformity certificates requiredand posted direct to the policyholder. Our easy step by step web portal guides the customer through the installation and dataviewing process.
Trakm8 are proud to boast the Made in Britain marque and manufacture all hardware at our dedicated West Midlands-basedfacility. As well as manufacturing and shipping telematics units, we are able to act as your companys customer support service. Ifrequired, our dedicated call centre is on hand to assist in ensuring smooth self-installation which takes on average 90 seconds. Ifthe self-installed device is identified as being incompatible with a vehicle, a hard wired solution will be assigned to the customer.This is an automated process that utilises the Trakm8 On-Board Diagnostics (OBD) authoring environment to determine andallocate the device based on fitment. Trakm8 has developed one of the smoothest and most reliable fulfilment models onthe market.
To find out more information on how Trakm8s Fulfilment and Logistics solution can benefit your organisation, contact us on 0330 333 4120 or visit www.trakm8.com
Trakm8 LimitedLydden House, Wincombe Business ParkShaftesbury, Dorset, SP7 9QJ
t: 0330 333 4120e: [email protected]: www.trakm8.com