AI in telematics to enhance the power of data
Telematics companies are well aware of the power of data. Improved safety, better productivity, and reduced costs are just some of the benefits that can be realized with telematics data. But artificial intelligence (AI) can elevate the power of data to unlock new insights, namely crash probability and climate impact. Here we highlight five reasons why telematics companies are embracing AI to uncover new value from GPS driving data.
1. To optimize fleet driver safety management
AI can add a new dimension to telematics data by converting GPS data into real-time crash probability. This goes further than a safety score or a risk score by identifying contributory factors to crash probability, including focus, anticipation, and speed control.
2. To support customers with a predict and prevent approach
AI in telematics is so advanced it can uncover previously unseen intelligence to predict crash probability and crash type. It enables fleets to observe crash probability changes between times of day, days of the week and specific trips. This insight provides valuable context for coaching conversations between fleet managers and drivers.
3. To help fleets access accurate insurance premiums
Telematics has great potential to facilitate successful partnerships between fleets, service providers and insurance companies. After all, data is knowledge. With AI in telematics, this potential gets even greater. Uncovering fleets’ crash probability provides insurance companies with data-driven insights for accurate pricing. Even better, it helps fleets mitigate risk and demonstrates to insurers a commitment to safety.
4. To offer sustainability and ESG programs
Fleets are seeking ways to reduce CO2 emissions and become more sustainable. With AI in telematics, service providers can uncover new climate impact insights for fleet customers. This includes measuring CO2 savings in grams or percentage, or even EV battery savings for fleets with electric vehicles. Such insights quantify climate impact to support ESG reporting and help fleets identify drivers in need of eco-training.
5. To get ahead of the competition
The telematics market is huge and will only continue to grow. With rapidly advancing developments in technology, telematics companies will be expected to be at the forefront of data analytics. This is where AI in telematics comes into its own. All that’s required to uncover new crash probability and climate impact insights is GPS data, something telematics companies already have as standard.
To summarize, AI in telematics is opening new doors for service providers, enabling them to offer value-added products to their fleet customers. GPS data has the power to revolutionize many aspects of fleet management and the addition of AI in telematics takes this to a new level.
Benefit from Greater Than’s AI in telematics
Greater Than uses AI for good to convert GPS data into driver scores that predict crash probability and climate impact. The scores can be further enhanced with additional intelligence including an analytics dashboard, prevention tool, and summary reports.
Insurance companies, underwriters, fleet solution providers, mobility providers and other owners of GPS data use Greater Than’s analysis to optimize driver risk management, achieve insurance profitability, manage sustainability & ESG reporting, and monetize GPS data.
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