Telematics insurance by video telematics companies, also known as pay-as-you-drive or usage-based insurance, is a type of auto insurance that provides you with discounts according to how you drive. Your cost will not be the same and may vary with your driving behavior and miles run in the case of usage-based insurance, unlike the fixed rate.
How Does It Work?
Once you opt for telematics insurance, a small software is installed in your vehicle, or you download an app on your phone. It captures real-time data from cameras and in-cabin sensors.
This software will follow through on aspects of how you drive. For example, it records how you drive.
For example, it tracks your speed, how you tend to break, and whether you mostly drive at night. If you drive safely and according to the rules, you get discounts on your insurance premiums.
Also, any time an accident or near-miss occurs by a driver, video from that moment can be played back and integrated with data from the vehicle. Video will obviously demonstrate what occurred and thereby the insurance companies will not have to rely solely upon the statements of drivers; they will be able to examine clear video evidence.
Benefits of Video Telematics Software
Video telematics software is the integration of video recording and data taken from the vehicle. It offers most of the benefits to the drivers, fleet managers, and insurance companies. Some of its most significant advantages are as follows:
Improve Safety
One of the well-observed benefits of video telematics is added safety. Video telematics monitors drivers in real-time which makes drivers more attentive while being on the road. Having an impression that their driving behavior is being tracked helps to establish an effective preventive measure to minimize accidents and safer driving.
Low Insurance Costs
The software helps fleet managers and drivers to reduce their insurance costs. To the insurance companies, less risk is associated with drivers who use video telematics because they can monitor their driving activity. Safe drivers may qualify for discounts, helping them save money on insurance.
Fast Claims Processing
Video telematics solutions offer clear evidence of what happened in case of claim processing. Such evidence could become key in settling claims. Video footage and data come in handy in aiding insurance adjusters to quickly ascertain fault. This accelerates the claims process while decreasing disputes between drivers and their respective insurance companies.
Real-Time Monitoring
Video telematics systems can allow real-time tracking of vehicles. Fleet managers can always track the location and driving behavior of their vehicles. This keeps them well-informed, such that they may advise a particular driver to avoid certain heavy traffic conditions or dangerous roadside conditions.
Driver Feedback and Training
Video telematics also automatically provides a driver with instant feedback on his or her driving habits. If they make sharp turns or brake too hard, the system can alert them right away. Such immediate feedback may help improve the driving skills of drivers, therefore reducing the chance of accidents.
How Video Telematics Companies Can Help
Video telematics companies offer personalized solutions for individual drivers and businesses. They install cameras and sensors in a vehicle, which they then configure correctly in order to maximize benefit.
They also provide software that collects and analyzes the data. This helps users gain easy access and review video footage and statistics concerning driving. The platforms developed by such companies are easy to use, thus allowing businesses to easily comprehend how the drivers are performing.
Besides, several companies offer training procedures to enlighten fleet managers and drivers on how to utilize the technology correctly. With such support from such companies, businesses enhance their security procedures and overall fleet management.
Why Choose Trackobit
Here are some compelling reasons to choose the Tb Track Lite software by Trackobit for all of your vehicle telematics solutions:
1. Simple and Clean User Interface: The Tb Track Lite Software comes very simple and clean without much complexity. It can be easily navigated by employees.
2. Real-Time Location Tracking for Vehicles: You can locate your vehicle in real-time. This helps you track movement and make quick decisions when necessary.
3. Reports and Insights: This entails providing you with detailed analyses and reports of metrics such as fuel intake, mileage, and general driving behavior. It enables you to optimize and capitalize on the better output in your operation.
4. Cost Efficiency: It will increase the efficiency of routes, save fuel costs, and even reduce maintenance costs with good management of the vehicles.
5. Scalable Solutions: It is able to scale the solution to meet your needs, developing without hassle.
6. Custom Alerts: It has Inbuilt reminders of customized notifications of all parameters. These parameters can include speed limit breaches, geofencing failure, or maintenance schedules to keep you updated at all times.
Before You Go!
Video telematics provides benefits that include increased safety, lower costs of insurance, and easier claims processing. The video telematics companies help in the installation of the systems and provide necessary support as well. Trackobit offers a very easy and price-effective telematics solution and has functions such as live tracking, detailed reporting, and safety monitoring, with excellent support. Such a solution is generally easy to use for businesspeople who wish to upgrade their fleet management.
