The death of the telematics device – but the future is bright for Redtail Telematics
REDTAIL has been spending a lot of time wedged between car manufacturers and insurers of late. It is an interesting place to be.
Redtail, telematics devices and innovation
As many of you know, REDTAIL was born out of Plextek Group. Innovating in Stolen Vehicle Tracking with Tracker, Lojack and CalAmp, as well as Usage-Based Insurance with Ingenie, Admiral and ByMiles. Currently, well, innovation with Connected Vehicle.
Throughout, our reputation as a quality provider of telematics devices has held fast, especially as we control all aspects: form factor, ergonomics and firmware. Also, connectivity, platform and portals, APIs, data science and Apps! But now we can see a time when the telematics box will be superseded by data available directly from the vehicle and its OEM. So back to that interesting place to be…
Telematics – data that revolutionises
Telematics data has promised to revolutionize risk and claims for a long time. Cost and experience of a box has limited mass-market scale. The automotive OEMs are trying to understand their play in the monetization of Connected Vehicle Data. The insurers are seeking to understand how vehicle data can benefit risk and claims and loss ratios. And that is where we come in.
REDTAIL is entirely telematics device or vehicle agnostic when ingesting data. That data is not limited to the typical four UBI parameters. Instead, our data can manage both insurance and diagnostic datasets to enable new opportunities. What we do is present that OEM Connected Vehicle data in a way that is immediately familiar, actionable and valuable to the insurer.
To date, we have started with the familiar, but are working on PoCs to scrutinize the value of other datasets – precise timing of airbag release, for example, innovation. And momentum is growing, more insurers, more OEMs!
So, why is the future bright?
Our DNA is sensors, signals and data. We know you need action and value. Connected Vehicle data is providing more sensors, more signals and more data. And we are convinced that we can play an important role in innovating and delivering that data to your needs. Exciting times!
