Many people in the U.S. think that telematics is all about usage based insurance. But telematics can go beyond usage-based insurance because it can be utilized for many more aspects that include fleet administration, loss control and claims adjusting.
With these facilities in focus, we can expect many more carriers embracing the telematics ecosystem for servicing and automotive management. In the near future, we will also notice insurance companies providing additional services using telematics like tour support and wayside support based on your requirements and your location.
Telematics Focuses on Efficiency, Safety and Utility
Now, with the help of telematics, we can extract greatest possible efficiency, safety and utility from vehicles/cars. It not only can provide continual and precise vehicle speed and location data, but also pointed acceleration, horizontal line acceleration and deceleration data. This ultimately provides a better understanding of vehicle usage with many more benefits to the vehicle owner and other users.
Telematics has stretched out beyond personal deployments, as it can also be used by viable auto insurers for fleet management: that includes vehicle monitoring and driver data. Additionally, new models of telematics have emerged by name “Mobile Telematics” through which the car’s computer system can be linked to smartphones for receiving data and sending it to the insurer using wireless network.
Car Insurance and Telematics
Telematics data can be availed from private passenger vehicles. This ultimately enables the drivers to be billed for insurance on usage-only basis. Some of the advantages for the driver include: saving on safe driving and reduced premiums for driving less kilometers. Apart from this, drivers will also be rewarded with incentives for maintaining good driving practice as well as their excellent driving performance can be fairly rewarded.
Today, a number of vehicles are utilizing this system. In addition to the flexible car insurance, the system offers embezzled vehicle recovery and tracking, breakdown assistance, accident assistance and emergency assistance.
Emergency assistance can be done in an automated manner whenever the accelerometer detects a tough impact. Emergency services can be provided in an automated manner with the help of vehicle information and location and the driver can also connect via voice.
Telematics for Fool-Proof Connectivity
Work is being undertaken by the U.S. Department of Transportation for using telematics for connectivity among infrastructure and automobiles. This would enable the warning systems to alert drivers of traffic issues and dicey situations and provide more cost-effective utilization of existing roadways.
Telematics is the latest electronics revolution that is bringing more proficiency and facility into our transportation. This technology can bring safety advantages like emergency calling and many more alterations in the manner we get our vehicle insurance.
As the world is getting more and more digitally connected and shareable, there is practically no limit for finding new ways of using location-based details.
Therefore, one of the best options for contemporary fleets is to leverage fleet management software which is nothing but a branch of telematics that harmonizes a large number of vehicles that are managed. All the things, from location to current speed and fuel consumption, can be viewed on the dashboard itself. Fleet managers on the other hand can get a clear view of the entire fleet checking the overall production, efficiency and physical condition of the fleet.
Telematics include the following applications:
- Carrier tracking: Carriers can be tracked using an amalgamation of GPS receivers, GPS satellites, cloud computing and GPRS networks.
- Trailer tracking: GPS trackers are often attached with long haul fleets to ensure they do not go missing and these devices can route the drivers to the trailers. The GPS system can be set up in such a manner that the trailer cannot be migrated without permission. The fleet manager’s mobile device can receive an instant alert.
- Insurance risk assessment: Insurance firms can monitor the drivers conduct enabling them to accurately identify the risk factors. This will enable them to adjust the insurance premiums consequently.
The Future of Telematics
Vehicle telematics are expected to advance by taking the benefits of increased usage of mobile devices, enhanced processing power and increasing number of GPS units. Since 2007, growth in the usage of telematics has been in double digits, as a large number of fleets have recognized the necessity to monitor fleet activity for controlling expenses and ensure conformity with government policy.
However, the future of telematics will largely depend on the requirement of fleet owners, who are continuously looking for ways to trim down costs, enhance accountability and boost productivity.
