New Verisk Data Exchange™ Integration for Insurance Telematics Now Available on the Geotab Marketplace
May 19 2020 - 12:36PM
Verisk (Nasdaq:VRSK), a leading global insurance data analytics
provider, and Geotab, a global leader in IoT and connected
transportation, announced today that the Verisk Data Exchange™
Add-In is now available on the Geotab Marketplace.
Fleet customers of Geotab, which provides award-winning
connected vehicle solutions for improved fleet management to more
than two million global subscribers, can now choose to share their
telematics data directly with insurers participating in the Verisk
Data Exchange™ through this new integration. The data will help
commercial auto insurers gain more granular insights into fleet
risks to refine underwriting, rating, and other potential insurance
services for participating policyholders.
“Adding Geotab to our network helps us expand the reach of our
innovative tools in the commercial auto market,” said Saurabh
Khemka, President, ISO Commercial Lines. “This integrated offering
helps us provide a reliable channel for Geotab customers to share
their telematics data with insurers and bring telematics analytics
and usage-based-insurance (UBI) products to the forefront of
commercial auto risk management.”
The Verisk Data Exchange Add-In to the MyGeotab dashboard is now
available through the Geotab Marketplace, a growing portfolio of
mobile apps, hardware Add-Ons and software Add-Ins that enable
Geotab customers to better manage their fleets.
“We are excited to welcome Verisk to the Geotab Marketplace,”
said Louis De Jong, Executive Vice President at Geotab. “This new
Marketplace offering enables customers to achieve an even greater
return on investment from their Geotab solution by helping to bring
focus to insurance needs as part of the total cost of ownership of
their commercial fleet.”
The use of telematics data from connected vehicle companies such
as Geotab presents new opportunities to help improve the risk
management process for the range of stakeholders in the commercial
auto space, including:
- insurance providers that seek to offer policies based on
driving behaviors
- brokers and agents who want to provide competitive rates to
clients as a business development and retention tool
- fleet operators looking to manage their insurance and total
ownership costs
Stakeholders can benefit from risk-adjusted pricing and
telematics-supported insurance programs, and the new Geotab
Marketplace integration with the Verisk Data Exchange helps
simplify the process by enabling the data services necessary to
underpin this evolution in commercial auto insurance.
As a hub for connected vehicle and smart home data, the Verisk
Data Exchange is the insurance industry’s leading IoT platform,
helping personal and commercial lines insurers achieve more
accurate rating, proactive risk management, and faster claims
response. The exchange currently processes data on over 6.2 million
vehicles daily, has more than 170 billion miles of driving data,
and is growing by nearly 150,000 vehicles every month.
For more information about the Verisk Data Exchange, visit
verisk.com/telematics. For more information about Geotab, visit
geotab.com.
About Verisk
Verisk (Nasdaq:VRSK) is a leading data analytics provider
serving customers in insurance, energy and specialized markets, and
financial services. Using advanced technologies to collect and
analyze billions of records, Verisk draws on unique data assets and
deep domain expertise to provide first-to-market innovations that
are integrated into customer workflows. Verisk offers predictive
analytics and decision support solutions to customers in rating,
underwriting, claims, catastrophe and weather risk, global risk
analytics, natural resources intelligence, economic forecasting,
and many other fields. Around the world, Verisk helps customers
protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30
countries and is a member of Standard & Poor's S&P
500® Index. For more information, please
visit www.verisk.com.
About Geotab
Geotab is advancing security, connecting commercial vehicles to
the internet and providing web-based analytics to help customers
better manage their fleets. Geotab’s open platform and Marketplace,
offering hundreds of third-party solution options, allows both
small and large businesses to automate operations by integrating
vehicle data with their other data assets. As an IoT hub, the
in-vehicle device provides additional functionality through IOX
Add-Ons. Processing billions of data points a day, Geotab leverages
data analytics and machine learning to help customers improve
productivity, optimize fleets through the reduction of fuel
consumption, enhance driver safety, and achieve strong compliance
to regulatory changes. Geotab’s products are represented and sold
worldwide through Authorized Geotab Resellers. To learn more,
please visit www.geotab.com and follow us @GEOTAB and on
LinkedIn.
Contact
Kelly Hall Geotab Communications Manager+1
905-580-2387kellyhall@geotab.com Brett Garrison Edelman (for
Verisk) +1 917-639-4903 Brett.Garrison@edelman.com
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