M2M industry leaders accelerate time-to-market with turnkey solutions for usage-based insurance and enterprise fleet management
Axeda Corporation and Walsh Vision today announced that the companies have joined forces to provide advanced machine-to-machine (M2M) solutions for the telematics market.
Axeda is the leading cloud platform provider for M2M application development and Walsh Vision is a visionary systems integrator specializing in the delivery of innovative cellular wireless solutions.
Through this collaboration, enterprises now have access to a flexible cloud platform that enables them to layer value-added applications on top of the real-time data coming from vehicles. Applications such as text disablement for safer driving, route management for improved service team dispatch and fuel savings, as well as vehicle management for maintenance cost reductions, can now be deployed in weeks, not months or years.
“Vehicle telematics continues to mature and represent one of the key segments in the M2M market,” said Thilo Koslowski, Vice President and Distinguished Analyst, Gartner Inc.
“New innovations in cloud-based telematics solutions will lead to advancements in data management, improved process efficiencies, and new value propositions for consumers and commercial businesses.”
With this joint solution, an OBDII data device is connected through a vehicle’s on-board diagnostics port and collects relevant data such as speeds, idling time, locations, distances traveled, and more. This data is sent over a cellular network to the Axeda® Platform, which is stored securely in the cloud and presented via a Rich Internet Application or integrated to enhance third-party solutions.
“When you are talking about basic monitoring of a 10-vehicle fleet, you might be able to get away with a simple telematics point solution,” said Dennis Lottero, Vice President of M2M and Wireless Solutions, Walsh Vision.
“But when you have a 100-vehicle service fleet, or are trying to monitor 10,000 policyholders for a usage-based insurance solution, scalability, security, and back-end integration capabilities become critical. We partnered with Axeda because these capabilities are built into their platform — making it faster and less expensive to deliver comprehensive and highly reliable M2M and telematics solutions to our customers.”
Insurance carriers are implementing usage-based insurance (UBI) models to provide competitive differentiation and meet customer demand. In a short amount of time, Axeda and Walsh Vision delivered a UBI solution that enabled one of the world’s leading insurance companies to track the driving behavior of individual policyholders. This information is used to calculate a “driver score,” which dictates policy terms and discounts and allows insurance companies to offer their customers value-added services. According to Walsh Vision, insurance carriers can anticipate the following business impacts:
- Increased retention of “safe drivers” by rewarding policy holders with a good driver scores
- Decreased risk when insuring drivers with poor driver scores
- Boosting revenue and customer retention by offering value-added services to policyholders, such as Parental Teen Driving Monitoring, applications that inhibit texting while driving, and integrated roadside assistance
Enterprise Fleet Management
Organizations are consistently looking for ways to reduce the costs of operating and maintaining their fleets of vehicles, vans, or trucks. With features like GPS tracking, email alerts, geofencing, ignition sensors, and more, the Axeda and Walsh Vision solution enables companies to gain control over once-uncontrollable assets.
For example, GPS tracking provides for marked increases in dispatch efficiency, allowing dispatchers to redirect drivers to alternate branch locations for emergency pickups or through faster routes to avoid traffic and ensure on-time deliveries. This level of visibility into actual driver behavior can:
- Improve dispatch efficiency with fewer miles driven per work day
- Reduce fuel consumption through speed monitoring and decreased vehicle idling times
- Decrease overtime costs and boost employee accountability
“As an Axeda Solution Provider, Walsh Vision brings deep expertise for our customers who want to rapidly deploy advanced wireless solutions,” said Jim Hansen, CTO, Axeda.
“By providing a total approach to design, engineering, delivery, and on-going support, Walsh Vision significantly reduces the complexity of bringing these game-changing M2M solutions to market.”