Transportation Technology Journal
Analyzing the implications of evolving technology in the transportation marketplace.

Telematics insurance expands globally

Published 2.21.2017
A brief look at recent news related to Telematics.

TomTom has 46,000 customers and more than 700,000 subscriptions to its fleet management product in Europe. A subscription is the same as a vehicle. That’s 15 vehicles per fleet is all fleet had the same number of vehicles subscribed, which of course they do not.

TomTom operates in more than 60 countries, but not in the US. In 2016, the company’s revenues were €987 million, a 2% decline from 2015. Telematics represented 27% total revenues or €266.5 million, which suggests an average monthly per vehicle revenues of €32.

London’s double-decker buses are using Lytx DriveCam video telematics system.

London Sovereign, RATP Dev's North London bus company operating the iconic double-decker buses (as well as single-deckers), has entered into a five-year contract with Lytx, the global leader in video telematics, to help improve safe driving behaviour on their fleet. During a 90-day trial, the DriveCam programme helped London Sovereign reduce collisions by 43 percent.

Beyond the camera, the system records hard braking or sudden swerving. The data is collected then analyzed. As drivers in fleets before them, when the drivers knew they were being monitored, their driving behaviors improved.

User based insurance is also coming to Colombia.

The insurance arm of Medellin-based conglomerate Grupo Sura has partnered with Scope Technologies to introduce new technology to its auto insurance. The collaboration will bring onboard “telematics” to user vehicles that can track driving performance and help the financial services firm better price its policies to correspond with each individual’s likelihood of having an accident.

Pay as you go insurance is growing in India too.

Liberty Videocon General Insurance said that it will be launch a new telematics project to track user behaviour. In a pay-as-you-drive concept, this will allow policyholders to get better pricing on their insurance policy if they exhibit good driving skills.

Eleven questions to ask a Telematics provider.


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