Redtail announces the achievement of a major milestone in its insurance telematics, fleet and aftermarket automotive business. It has now manufactured and shipped more than six million telematics devices worldwide
March 23, 2017
San Diego, California (March 23, 2017) – Redtail Telematics Corporation, a global manufacturer of high-definition data products and services for the insurance industry and vehicle fleets, today announced that has now designed, manufactured and shipped more than six million of their telematics devices to the worldwide global automotive aftermarket.
In the UK, BIBA reports that Redtail technology is used in 22% of the 750,000 telematics insurance policies that are operational in the U.K. and 100% of policies active in the Netherlands. Redtail’s hardware has been used by insurers including Ingenie, Direct Line, Axa, and Admiral.
The devices communicate how the customer is driving, and poor or risky driving is identified for feedback to the driver. In the event of an accident, the insurer knows almost immediately the speed, location and direction of impact, the acceleration involved and the braking immediately before and during the accident. Redtail’s software then reconstructs the incident in the insurer’s claims department.
Commenting on the growing demand for Redtail’s telematics devices, Dr. Colin Smithers, Redtail Telematics CEO explained: “Insurers are very comfortable with the idea that telematics can help them rate policies more accurately, but they are also increasingly starting to see the real benefits of proactive FNOL (First Notification of Loss) for claims management services and identification of fraud. As a Telematics Service Provider (TSP) we have a hard earned reputation for highly accurate and granular data that the insurance customer can access, as well as industry leading incident alerting and advanced driver scoring, and our devices are among the most reliable in the industry.”
Indeed, one of the main drivers behind the marked increase in telematics popularity is an improved comprehension of the benefits delivered by technology, from more accurate and adequate pricing to tackling various forms of fraudulent claims, such as for whiplash.
Moreover, Redtail Telematics also attributes the growth in its customer base to a wider sense of engagement in telematics technology, a growing familiarity with consumers who no longer see telematics as a unique solution.
“Consumers will continue to drive telematics into the mainstream market,” explains Dr. Smithers. “There is a huge global phenomenon around self-tracking and wearable devices, and this extends to cars. Consumers are beginning to understand that they can trade the information they collect on themselves and their environment for a better deal or service.”
Dr. Smithers concludes: “Redtail has always been committed to providing deeply integrated and customized solutions tailored to the needs of our customers".
About Redtail Telematics
A leading provider of telematics solutions to the usage based insurance (UBI), fleet tracking, and stolen vehicle recovery (SVR) sectors globally, Redtail draws on its joint heritage with sister company, Plextek, the communications technology design house which has supplied 6 million black box telematics devices into the automotive aftermarket in more than 30 countries since 1993.
Redtail Telematics Ltd is headquartered in Cambridge, UK and, together with sister company Redtail Telematics Corporation in San Diego, California, is unique among telematics service providers (TSPs) in designing and manufacturing its own devices - known as on-board units (OBUs) - as opposed to purchasing them from a technology provider.
However, the company has expanded significantly beyond telematics device design and manufacture to offer a broad set of services - including the capture, analysis, and processing of telematics data - for insurance, and fleet and plant equipment sectors.
Redtail’s focus is on building long-term partnerships with customers, enabling them to develop sustainable telematics programs and maximize ROI. It supports customers across multiple industries in achieving their objectives through the combination of innovative technology, advanced software, and industry-leading consultancy services.
For further information, please visit www.redtailtelematics.com or contact:
+ 1 (866) 711-4880