TRACKERS FOR THE INSURANCE TELEMATICS INDUSTRY

INTRO

Most car crashes worldwide are caused by driver errors and undesirable behaviour, leading to significant issues for businesses, road users, law enforcement, and society, costing billions annually. To address this issue, Teltonika's telematics division has developed and manufactured sophisticated GPS trackers with a unique feature set, dedicated to insurers and corporate fleets.

CHALLENGE

According to Statista, the global Motor Insurance market is expected to continue to grow significantly over the coming years. Many fleet owners, insurers, and traffic police are familiar with unwanted driver behaviour. Nearly all car crashes result from driver error. According to the National Highway Traffic Safety Administration, “94 per cent of serious crashes are due to dangerous choices or errors behind the wheel.”

To understand the problem, the World Health Organization reports that around 1.19 million people are killed on roads globally each year, with more than half of those fatalities being pedestrians, motorcyclists, and cyclists.

Fraudulent insurance telematics claims are also a major global issue. In 2023, Japan uncovered 65,000 fraudulent claims submitted by Bigmotor, while the United Kingdom detected 45,800 fraudulent motor claims, worth £501 million.

There is a clear demand for solutions to reduce insured losses, presenting a significant business opportunity. As one of the industry leaders, Teltonika's telematics division is committed to preventing injuries, deaths, and financial losses through IoT technology. Here’s how we make a difference.

SOLUTION

By utilising telematics-based products, insurers can reduce common risks associated with insuring drivers, leading to fewer claims and higher profits. When a vehicle is equipped with a GPS tracker, it transmits the vehicle's geographical location, average trip speed, driving style details (e.g., aggressive acceleration, braking, cornering), traffic violations, accident data, and more.

This approach provides actionable feedback, enabling both insurers and drivers to adopt safer driving practices. It benefits both parties, creating a win-win situation for businesses, road users, law enforcement, and society.

Teltonika's telematics team has designed and developed the FAST & EASY category insurance telematics trackers. FMC880 and FMM880 models have been rigorously tested to meet industry standards. These vehicle GPS trackers are ideally suited for usage-based insurance (UBI), including services such as pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), manage-how-you-drive (MHYD), first notice of loss (FNOL), claims processing, accident reconstruction, and more.

FMx880 series GPS devices feature advanced crash detection capabilities. Modifications of these models with gyroscope data provide detailed 6-axis motion analysis specifically tailored to the needs of the insurance industry. The models are specifically dedicated to the insurance industry, keeping its unique requirements, extensive market research, and best practices in mind. Let's explore some key features and benefits that make it unique.

Crash Detection and Crash Trace: Thanks to the accelerometer and gyroscope features of Teltonika FMC880 and FMM880, insurers can obtain highly detailed crash event data. With linear acceleration (from accelerometers) and angular motion (from gyroscopes), a more complete picture of the vehicle's dynamics is captured using six axes during a crash.

The 400 Hz output data rate provides frequent samples for accident reconstruction, which can be used to create tables with coordinates, force or speed changes, various graphs showing changes along the X, Y, and Z axes, and angular speed measures around these axes. Impact points can also be calculated, marking the side and direction of impacts. These data protocols can be provided by the insurer's own software or by Telematic Service Provider platforms.

Instant tracker Unplug Detection: This feature, combined with an internal battery, prevents attempts to compromise data transmission. Additionally, thanks to its compact size, slim shape, and powerful antenna, this GPS device can be used as a secondary hidden 'backup tracker' to ensure effective stolen vehicle recovery, even if the primary tracker is disconnected or tampered with.

Improved GNSS tracking and robust protection: Equipped with the largest-in-class internal GNSS receiver featuring L1 and L5 dual-band, these trackers provide high accuracy in tracking. They allow direct mounting on a car battery under the bonnet, with installation taking under five minutes, without requiring dedicated professionals. The robust IP65 casing ensures the devices withstand harsh weather and freezing winter conditions.

TOPOLOGY #1

Driver scoring (aka driver behaviour analysis): Based on data provided by FMx880 series trackers, insurance agents can calculate policyholders' scores (e.g., dangerous manoeuvres, vehicle usage patterns, environmental impact) and adjust tariffs accordingly.

This way, responsible drivers pay less, and reckless drivers are charged more, helping to improve the company's loss ratio, financial performance, and individual driving habits.

The driver scoring method is also ideal for corporate fleets. When implemented correctly, this method will improve fleet personnel's driving style and safety, reducing risky behaviours, accidents, repairs, maintenance, and operational costs.

TOPOLOGY #2

BENEFITS

• Reduction of insurance telematics fraud claims - accelerometers and gyroscopes capture detailed 6-axis motion data during a collision, providing precise information to reconstruct accidents and limit fraud.

  
  

• All-in-one insurance industry feature set - FMC880 and FMM880 trackers are specifically designed and rigorously tested for the insurance industry, including all necessary features without unnecessary extras.

  
  

• Comprehensive and accurate data - these tracking devices provide a detailed set of data to monitor, analyse, and generate relevant reports, including geographical location, trip speed, driving style, traffic violations, and accident data.

  
  

• Compact, robust, and easy to install - Teltonika GPS devices are slim, durable, and easy to install in under five minutes, without requiring technical skills or experience.

  
  

• Improved loss ratio and profitability - FMx880 series feature set helps improve driving habits, reduce risky behaviour, and lower operational costs, resulting in better ROI, cash flow, and profits.

  
  

WHY TELTONIKA?

Teltonika's telematics division is reshaping the insurance telematics industry with advanced vehicle tracking solutions that enable insurers to implement data-driven risk assessment strategies. Our innovative GPS trackers provide real-time vehicle data, including driving behaviour analysis, speed monitoring, and accident detection, to help insurance companies mitigate risk, reduce fraudulent claims and offer usage-based pricing models. With this technology, insurers can encourage safer driving habits while improving customer satisfaction through fair and personalised premiums.

Backed by decades of experience in IoT and telematics, Teltonika delivers highly scalable, secure, and customisable solutions for insurers worldwide. Our GPS devices integrate with existing insurance platforms, ensuring easy deployment and reliable performance. Whether you are looking to improve claims handling, enhance fraud prevention, or introduce innovative insurance models, Teltonika's telematics solutions give your business the precision and efficiency it needs to stay ahead in a competitive market.