(Image source: TomTom Telematics homepage.)
Verisk Insurance Solutions (a Verisk Analytics business unit, Jersey City, N.J.), a provider of information about property/casualty insurance risk, has undertaken an alliance with TomTom Telematics (Amsterdam), a global telematics solution provider. Through the alliance, fleet owners can choose to flow driving data collected by the TomTom Telematics Service Platform with WEBFLEET, the company’s Software-as-a-Service (SaaS) fleet management solution, into the Verisk Data Exchange, according to a Verisk statement. That capability will provide TomTom WEBFLEET subscribers access to fleet insurance benefits and operational safety feedback.
The Verisk Data Exchange, which debuted in the market in July 2016, offers fleet owners and managers the opportunity to contribute their driving data and take advantage of participating carriers’ fleet insurance coverage designed to reward safety-conscious fleets.
“Through this integration, fleet operators with WEBFLEET can potentially realize significant insurance cost savings simply by practicing safe driving behaviors,” comments Torsten Grunzig, director of North American Sales, TomTom Telematics. “This solution clearly illustrates how data access and data flow can drive real business benefit.”
“The TomTom Telematics Service Platform provides a valuable connected service to its customers to improve service level and increase overall fleet performance,” comments Saurabh Khemka, senior vice president and general manager, Verisk IoT/Telematics. “Through this alliance, WEBFLEET customers can extend the reach of connected-fleet driving data to include insurance pricing that better reflects the operational safety of their fleet.”
Growing Data Exchange
Khemka notes that Verisk’s data exchange has enjoyed continual growth. To date, more than 7 billion miles of driving data have been collected from over 1.5 million vehicles, he reports. “In the first quarter of 2017, we processed more than 3.7 million trips a day. We’re excited to welcome TomTom Telematics to the exchange,” Khemka adds.
Verisk describes the Verisk Data Exchange as a hub for connected-vehicle and smart-home data. Verisk’s IoT solutions aim to help personal and commercial lines insurers to achieve more accurate rating, proactive mitigation services, and faster first notice of loss, according to the vendor.