How implementation of Telematics and GPS tracking devices are useful for vehicle Insurance Company?

vehicle insurance

With the dawn of technological encroachment, the Insurance segment is also going through an enormous alteration. As the insurance agencies are getting smarter day-by-day, a simple ploy will not work.

The Insurance Companies were facing massive fatalities because of counterfeit claims, and then Telematics came into the picture. Not only is it going to help the insurers but also the people who are their clients. How Telematics can revolutionize the world of the insurance sector:

The real-aspect of Telematics which is benefiting the Insurance Sector:

Telematics serves as a twig of Information Technology which particularly deals with long-distance communication of computerized information. The means of Telematics can be used in insurance sector to receive the real-time location details of the vehicle using a GPS tracking system which can be installed in a car or in any kind of vehicle.

  • Get better insights by means of means of additional data which includes capturing driving patterns in way more than one. Easing the job for insurance Companies comes next to the AI based reports and other relevant analytics.
  • Track the location 24*7 and the tracking data can be integrated with mobile app and application which come
  • Even driver’s behaviour while driving.
  • The device helps in building calculated decisions which would result in superior safety and security.

How Telematics of GPS tracking system serving the Insurance Sector:

  • Keep a digital eye on driving behaviour: Many people do false claims for getting money out of insurance companies. In 30% of the cases, it is the rash driving of customers which is the origin of accidents. So, insurance companies can get rid of these forged claims by having statistics from the device provided for the Telematics solutions.
  • Track stolen vehicles: Another reason would be the growing number of thefts of vehicles. After vehicle thefts insurance companies have to pay their customers the insurance amount which has augmented their loss percentage.
  • Get real-insurance value: Make the precise value of the vehicle using the Telematics data.
  • Deliver contentment to clients: Inform your patrons about the upcoming services of their vehicle using the Telematics data provided by the tracking device.

The tracking devices improving transparency:

Facility of remote voice monitoring- It would act as proof in accidents or incidents for insurance claims, falsely accuse and illegal blame.

You can be safe and secure with its front collision system which will help in detecting objects in front of the vehicle.

Track playback- record history routes

Anti-theft alarm when detects suspects or odd behaviour.

Invasive technology by ThinkRace Technology

ThinkRace Technology – the prominent GPS tracker manufacturer provide you with the compact and lightweight device which can also be customized bestowing to client’ needs. The kinds of solutions that we provide are:

OBD GPS Car Tracker- A plugs& play device used exclusively in cars!

GPS Vehicle Tracker- Best suitable for all kinds of vehicles!

Our 80+ R&D and operational engineers are capable to assemble more than 8000 devices per day. Having completed 11 years of success in the domain, we are acknowledged for customized app and web tracking platform. Build your own brand and avail complete tracking solutions with our GPS tracking ODM/OEM/JDM solution.