Verisk Insurance Solutions, a source of information about property/casualty insurance risk, announced an alliance with TomTom Telematics. 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. This will provide TomTom WEBFLEET subscribers access to fleet insurance benefits and operational safety feedback. Verisk Insurance Solutions is a Verisk Analytics business.
Launched to market in July 2016, the Verisk Data Exchange offers fleet owners and managers the opportunity to contribute their driving data and seamlessly 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," says Torsten Grunzig, director of North American Sales for 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," said 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. Our data exchange continues to grow: to date, more than 7 billion miles of driving data have been collected from over 1.5 million vehicles. 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."
The Verisk Data Exchange is a hub for connected-vehicle and smart-home data. Verisk's Internet of Things solutions help personal and commercial lines insurers achieve more accurate rating, proactive mitigation services, and faster first notice of loss. For more information, visit verisk.com/data-exchange.