Everyone’s seen the Progressive Insurance commercials featuring Flow and the “snapshot” discount. Progressive has been aggressive and successful over the last several years in marketing its Telematics device. It’s simple, really. Just plug the miniature tracking device, about the size of a business card, into your 1996 or newer vehicle and receive a nice little discount on your personal auto premium…but there’s a catch. Your driving behavior including speeding, hard braking and distractive driving is being monitored by the little tracking device. And, with the ability to monitor your behavior, the massive consumer-driven insurance giant can more confidently assess their risk when insuring clients thus being able to give customers financial rewards for their good driving behavior… unless their driving isn’t so great. Sounds smart right? Its actually incredibly smart and a perfect example of how innovative tracking technology is changing the connected device landscape permanently.
Connected devices are being adopted in every industry and will become more and more prevalent in the near future…even the next 6 months. We are already seeing wearable’s like arm bands in company work places that monitor health and wellness and reward calorie burning activities and exercise. We see the technology in the medical space, municipal space and even in bicycles and wrist watches.
But how does it really work? And what is Telematics anyway? And why should business owners with commercial vehicles really care about risk management technology incentives?
Let’s take a step back and define this technology. So what is Telematics?
Telematics is defined as: The integrated use of telecommunications and informatics, for application in vehicles and with control of vehicles on the move. Telematics includes Global Positioning System technology and mobile communications technology.
This is a somewhat vague description considering there are over 30+ ways to use the technology to reduce business operating costs. In fact, the technology benefits are so immediate that there are over 8 million small businesses in North America that are forecasted to adopt Telematics technology in their vehicles in the next 10 years. In fact, businesses today simply cannot afford not to.
This vehicle technology has been on the rise in pretty much any and every industry vertical imaginable world wide. If there are vehicles involved, then communicating with the computers in those vehicles is the key…pun intended. Why exactly? Well here are a few stats… According to the latest Telematics research studies; Using GPS tracking helps businesses to:
Increase service profitability by 12.2%, reduce unauthorized vehicle use by 27.9%, reduce idling and fuel waste by 15.2%, reduce insurance costs by 10-15%, reduce overtime pay by 9.9%, reduce travel time by 14.8% and several other benefits like always knowing where your drivers are and what they are doing with your vehicles 24/7. Also another advantage is being able to recover your vehicle immediately after a vehicle theft with minimal losses. The most noticeable advantage is controlling risky driving habits like speeding and hard braking or cornering thus reducing the chances of the most costly accident claims. There are so many other examples like Geo-Fencing and Driver safety scoring, its no wonder why insurance companies don’t just like the idea, they love it. But so should the owner of the vehicles as their driver liability decreases and ability to control their mobile work force increases substantially.
Pure Connect GPS Inc has captured this vision of Telematics technology and innovation in the commercial arena with a mission to offer a sustainable advantage in creating a secure and scalable solution for fleet vehicles and drivers while maintaining a safe mobile work force using electronic driver scoring.
"We are able to help businesses leverage these discounts with insurance carriers by improving your fleet safety with electronic scorecards directly from the tracking devices in the vehicles. Whether a business has 1 vehicle or thousands of vehicles, Pure Connect GPS helps businesses take advantage of these cost savings that most businesses don’t even know exist. Nor do they know how to get. Our Telematics' team know exactly how to position you with carriers when using our technology and they do it with your company requirements in mind. In fact, our technology typically pays for itself immediately and the long term cost savings are the reward.”
Phillip Graham - Program Manager | GM
For more information about the program simply email firstname.lastname@example.org or call 888-344-2555.