Tracker revolutionises telematics
Telematics has made a huge impact on the South African insurance market. However, while some insurers have adopted telematics in their models, there are some insurers who have not embraced this technology to its fullest as they are still weighing up the pros and cons, says Sandra Page, Head of Insurance Business at Tracker.
Vehicle intelligence company Tracker developed an innovative telematics application which can be white labelled and tailored for use by any insurer. They are literally taking telematics to the next level in the South African insurance industry with their latest offering.
Improving value propositions
Speaking to the FAnews, Sandra Page, Head: Insurance Business at Tracker, explains that the recently launched mobile application has not only been designed to benefit insurers, but also their clients. “We are currently offering the application to insurers in order for them to increase their value proposition to their clients. Drivers will be able to build up a portfolio of information on their driving habits. They can then use this data as a starting point for renegotiating premiums based on the information that is available on the mobile app,” says Page.
Tracker can white label the mobile app, which means that any Internet Protocol (IP) the insurer wants to integrate into the existing app will then belong to the relevant insurer. From experience, Tracker has picked up that different insurers want to use the mobile app for different reasons. It will depend on what the specific company wants to achieve. Reasons for using the app can vary from driver behaviour, competitions, retention and rewards.
Changing perceptions
There has been a reluctance from the public to embrace telematics, as the perception that Big Brother will always be watching is the issue they cannot seem to get over.
Page however believes that this perception can be overcome if telematics is applied in a responsible manner. “I believe that the way in which telematics has been applied – fixed box or cellphone application – has revolutionised this space, and customers see the value in being connected, being looked after in the time of need and being rewarded for safe driving. The days of let us see how badly you drive have changed forever. Telematics is used to connect insurers to their customers,” says Page.
The concern from the public’s point of view is the manner in which insurers will use the information collected from the application. Using a mobile phone while driving – whether it is for texting or for making a call – is still a major area of concern on our roads, yet the majority of people cannot seem to break this habit.
“The Tracker application can pick up when a phone is being used, however it could be linked to a child that is playing games on their parent’s phone. The movement of the phone is picked up, so if a person is texting, it will register that movement. With Bluetooth, there is no additional movement so that is picked up as well,” says Page.
An industry view
There is a role that brokers can play in motivating the public to change their view on telematics. Page points out that the packaged end-product will sell itself as the driver will quickly pick up when the driving is good and when he needs to improve on certain things.
“The convenience of being in touch when you need someone and being rewarded for good driving will attract the client. We advise brokers to motivate clients to use the telematics application, as this could put them in an ideal position to increase their value proposition to their clients,” says Page.
It is obvious that telematics is here to stay and it can only be beneficial to an industry where we need to move back to better driving and more patience on the roads.
