With the passing of time, technology has taken over nearly every industry in the market, and there is hardly any that has not experienced the consequences of the growing technological advancements, either good or bad.
Similarly, telematics is a new technology created by combining the two existing mechanics- telecommunications and informatics. Many companies around the world have started providing telematics solutions that deal with a lot of aspects. But one prominent industry that is making the most out of this new technology is auto insurance.
Telematics and Auto Insurance Industry
The current providers of IoT solutions saw a gap in the market and also a potential to bridge the gap by introducing telematics to help the auto insurance industry grow. One such manufacturer is Teltonika, which is continuing to bring modern technological solutions to the existing problems.
Be its GPS tracking devices, fleet management, or monitoring trackers, Teltonika has got all the wholesalers of telematics service providers covered.
Coming back to how telematics solutions have disrupted the auto insurance industry. Ever since telematics solutions hit the industry, it has gained immense limelight bringing benefits both to the users and the providers of the service.
The overwhelming response to telematics made sense as it brought solutions to the problems the industry was facing.
How Teltonika Embedded Telematics Is Revolutionizing The Auto Insurance Industry
Teltonika embedded telematics enables connected cars to communicate and send important information to other devices with the help of the internet. The sole purpose behind embedded telematics is to get real-time information regarding the vehicle. Also, allows for better fleet management. The users of the embedded telematics can make the most out of the data they will have access to; for instance, talking about the example of fleet management, the owners can have an eye on the drivers and see if the vehicle is being used at off-hours or did it pay a visit to an off-site location. All of these insights are important because of auto insurance.
Auto insurance is mandatory for vehicles. Be it if you are managing the fleet or driving your own vehicle. In either case, one can't let go of the auto insurance. Speaking of which, auto insurance can be very expensive, and those who are in the business of fleets or own their own vehicles are always in search of the cheapest insurance. Better drivers get low premium value auto insurance. At the same time, drivers with high accident rates have to pay a high premium value.
With the help of telematics by Teltonika, a track of the driving can be kept and can be used to count what the driver should expect in terms of paying an auto insurance company.
Why Should Wholesalers Sell Teltonika Embedded Telematics?
As a wholesaler, you should consider providing the best telematics solutions to your auto insurers due to the following reasons:
First and foremost, Teltonika embedded telematics will allow the end users to keep track of their vehicles if some other driver is driving them. Due to the GPS tracking devices, the GPS satellites system works, and the GPS receiver will send the information on the preferred mode of communication to send updates.
Not just that, with the help of GPS tracking devices, the driver can use it to their own benefit for navigation purposes.
2. Safety Tracking
The owners of the vehicles can also use Teltonika embedded telematics for safety purposes and keep an eye on the speed and location of the driver. Not just that, but telematics provides detailed specifications like whether the driver was wearing a seatbelt and driving properly or not.
It allows the vehicle managers to take preventative measures beforehand and warn the driver is caught in over speeding or lacking responsibility. Many businesses dealing with fleet management have to bear huge losses because the drivers are irresponsible, don't take account of their actions towards the company, and end up bringing huge costs because they were not careful and, most importantly, the insurance cost.
So as a wholesaler provider of telematics solutions in the field of America and Africa, you should provide them with the best fleet management services.
3. Asset Management
With the telematics solutions, it has now become easier for the owners to keep track of their assets being sent in the trailers or carts. Close supervision is very hard, which brings not only a lack of efficiency but also a threat of losing important assets. But not anymore. With the Teltonika telematics solutions, the owners of the assets can supervise that no asset is being moved with authorization.
All in all, it can be said that if you choose Teltonika telematics solutions to offer your customers, you will be allowing them to have detailed insights about their business. In this way, not only will you be their top choice whenever it comes to fleet management solutions, but they will also benefit and expand their own business.
Top 6 Amazing Benefits Of Telematics In The Auto Insurance Industry
Obtaining insurance was previously a complicated process, and the entire process was even subject to vagueness, but not anymore. With telematics, transparency in auto insurance has been enhanced, and drivers know what to expect.
2. Benefit To Insurers
The insurers in the auto insurance industry found it hard to improve their customer service with not having access to accurate, real-time information. Now that this aspect is not a problem anymore, insurers know what to offer to their customers and even who are in the fleet management business because they have updated data.
3. Drivers Or Driving Companies Can Benefit
Just like the insurers can use the telematics solutions to better their services, the insured can use the Teltonika telematics solution to their use and ask for lower insurance if they haven’t received a speeding ticket or have not been involved in accidents.
4. Responsibility While Driving
As people are becoming more aware of telematics and how it gives insights into the business in real-time, the drivers have become more considerate of their driving actions and have started accountability. In this way, they ensure that the speeding limit is not crossed, the signals are seen before crossing through the square, and other cautious aspects are met while driving. This reduces the traffic on the roads as well because of a reduction in accidents.
5. Auto Claims Have Become Easier
In the digital world, where everything is not possible with a click on the phone, going and claiming insurance physically does not make much sense. However, that changed with the help of telematics in the auto insurance industry, with drivers who can submit digital photos of the vehicle damage to the insurance and claim for repair processing. This speeded up the process of claiming insurance and eliminated the need to be present physically and claim it manually.
6. Reducing The Repair Cycle Time
Telematics solutions will not only help with insurance calculations but will reduce the repair cycle time of automobiles as well. For example, whenever a driver meet an accident, the telematics solution can automatically call for medical assistance; meanwhile, the insurance company will start the process of calculating the insurance, and along with all of this, the repairers will jump into the situation and get it fixed. This way, the time from the accident to getting it fixed will be reduced significantly.
Teltonika- Your Best Telematics Solution Manufacturer In The Market
If you are a wholesaler in the field of America or Africa, looking for a manufacturer of telematics solutions providing fleet management devices and GPS tracking devices, then you are in the right hands as Teltonika is serving your requirements! We have a vast collection of telematics solution products that you can offer to your customers, and most of them are auto insurance industry-related which will help them achieve the benefits that we have listed above.
Insurance telematics is enhancing the services of an auto insurance company by joining the finances with technology. It will not bring benefits to one party, but both the parties, buyers and sellers, along with the insurance companies, make the best use of it. With this, driver safety is increased, better transparency of insurance calculation is achieved, and much more.
Right, when we thought that technology didn't have much to offer the auto insurance company, the Teltonika telematics for the auto insurance industry showed that nothing less should be expected from modern technological advancements and expect a better solution in the market for everything.
Get your wholesale orders for the telematics devices from Tracking Hardware and offer your customers to benefit from what it has to offer!