ATG Risk Solutions, creators of the FAIR Score safe driving index and the first telematics data clearinghouse to enable usage-based insurance (UBI) programs for auto insurance carriers, and leading fleet telematics provider GPS Insight just announced an agreement under which the ATG Clearinghouse will make GPS Insight telematics data available to commercial auto insurers for risk management and underwriting.
The ATG Clearinghouse allows auto insurers to access and verify vehicle information and driving analytics to enhance their underwriting and ratings processes. With the world’s largest telematics vehicle database, the ATG Clearinghouse serves as a secure and trusted repository of detailed data on how, where and when vehicles are being driven. By participating in the Clearinghouse, telematics service provider fleet management companies (TSPs) such as GPS Insight are able to monetize the data they collect on behalf of fleet customers and those customers, in turn, can access potential insurance credits and benefits.
“We are delighted to welcome GPS Insight as a premier telematics data partner to the ATG Clearinghouse. GPS Insight provides highly flexible solutions, which include a wide range of customized reports, alerts, and other innovative features at the leading edge of fleet safety data solutions,” said ATG Risk Solutions Founder and President Chris Carver. “The core of our offering to insurers is the vital data gathered by TSPs such as GPS Insight, and with their help, we are making the promise of UBI a reality for fleet operators and their insurers.”
ATG gathers, stores, normalizes and standardizes vehicle and driving data from TSPs, facilitating the private and secure transaction and transmission of data between TSPs and insurers, following the consent of the policyholder/fleet owner. In so doing, ATG serves as a single, standardized data source that integrates seamlessly with the insurance carriers’ underwriting process. The company’s FAIR Score (Forward Assessment of Indexed Risk) offers an analysis of a fleet’s driving safety normalized by underwriting class and territory, including the context of the driven environment and vehicle characteristics.
“By partnering with the ATG Clearinghouse, we offer our fleet customers an additional level of service and a further return on their telematics investment, connecting them to their insurers as never before,” said Rob Donat, GPS Insight CEO and founder. “As the critical data link between the fleet operator, TSP and insurer, the Clearinghouse serves as the essential privacy and data integrity control point for this exchange. We are excited to be actively participating in this revolutionary program as it helps insurers and our customers better manage risk, simplify claims and reduce losses.”
The post ATG Clearinghouse and GPS Insight to Partner in Telematics Data Sharing to Enable Usage-Based Insurance Programs appeared first on Fleet Management Weekly.
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