REDTAIL TELEMATICS APPOINTED BY FORD AS A RESELLER OF CONNECTED VEHICLE DATA TO MOTOR INSURERS IN THE UK
Redtail and Ford partnership will provide connected vehicle data for usage-based insurance will enable scale. Long promised but now moving towards reality! Redtail Telematics has signed an agreement with Ford Motor Company to become a technical partner and reseller of connected vehicle data to motor insurers for both personal and commercial lines.
Ford vehicles’ multiple sensors will provide a unique range of data suites to the REDTAIL platform. In turn, we will apply our expertise to create bespoke data streams of actionable value for motor insurers. That data will allow those insurers to maximize their understanding of policyholders to manage premium, risk, reward and claims processes.
So no black box. A cost-effective alternative enabling insurers to reach new market segments paying lower premiums.
But also more vehicle data for multiple parameters, which can include the operation of seat belts, status of Advanced Driver Assistance systems or the use of an on-board vehicle alarm. The benefits to insurers in management of risk, premium and claims is enhanced by the accessibility and usability of the existing and familiar REDTAIL APIs, data science and portals.
Commenting on the partnership with Ford, Dr Colin Smithers, REDTAIL CEO, said: “Redtail Telematics’ partnership with Ford in the UK helps insurance providers use connected vehicle data – without the need for plug-in devices – to inform their usage-based insurance programs, improve their underwriting process, and pass along driver behavior discounts to those Ford vehicle owners who qualify”.
“Ford is excited to further extend its usage-based insurance offering in partnership with Redtail Telematics, which will allow our customers across the UK to benefit from even greater value for money insurance policies”, said Mark Harvey, Director, Enterprise Connectivity, Ford of Europe.