Verisk, a data analytics provider, will partner with Omnitracs, LLC, a fleet management solutions company. As the first large-fleet commercial telematics service provider to align with Verisk, Omnitracs will now offer its subscribers the ability to contribute data to the Verisk Data Exchange and apply analytics to the operational safety of their connected fleets.
Through the alliance, fleet owners have the option to transfer driving data collected by their Omnitracs telematics platform, the company's Software-as-a-Service (SaaS) fleet management solution, into the Verisk Data Exchange. By contributing their driving data, Omnitracs subscribers will be able to take advantage of fleet insurance services from participating insurance providers and receive operational safety feedback through focused analytics while keeping fleet managers in complete control of their data.
"We're excited to expand our telematics-based insurance services to Omnitracs customers and help the insurance industry address the challenging commercial auto risk segment through innovative tools and solutions," said Saurabh Khemka, senior vice president and general manager, Verisk IoT/Telematics. "Through the Verisk Data Exchange, we see great potential to enhance the way insurers manage commercial auto risk while providing added value and experience to fleet operators and telematics service providers."
"This alliance is a compelling blend of our decades of experience with safety and predictive analytics and Verisk's leading insurance-focused data analytics," said Brad Taylor, vice president of data and IoT for Omnitracs. "We're excited to offer this as an option to Omnitracs subscribers and for the potential to create a portfolio of risk management solutions for our joint customers."
As a hub for connected vehicle and smart home data, the Verisk Data Exchange is part of the insurance industry's Internet of Things (IoT) platform, helping personal and commercial lines insurers achieve accurate ratings, proactive loss mitigation service and faster first notice of loss, according to the company. The exchange now has more than 3.5 million vehicles with over 43 billion miles of driving data-and growing.
