Momentum builds for telematics market

Two new partnerships look set to speed the spread of telematics technology in the Australian insurance market.

Tech companies Wunelli and SSP have teamed up to introduce to Australia and New Zealand a suite of smartphone apps capable of recording driving behaviour such as acceleration, braking, speeds and destinations using the phone’s own GPS data.

SSP Data Services Strategy Head Adrian Coupland says the technology will make it easier for insurers, brokers and motoring organisations to get involved in usage-based motor insurance.

“The agreement with Wunelli allows us to offer insurers entry into the usage based insurance arena at a fraction of the cost of hard-wired devices,” he says.

“The smartphone apps will allow insurers to go out to the mass market and collect vast amounts of data to understand how it can be used effectively for rating purposes and claims.

“This is part of a long-standing relationship we have with Wunelli, combining our complementary skills to bring insurers best of breed solutions.”

Meanwhile, Australian GPS tracking specialist Ezy2C has paired with US telematics player Modus to provide telematics options to Australian insurers.

Modus CEO Brandon Johnson says together the two firms can deliver both sides of the insurance telematics equation.

“Ezy2c has already made GPS tracking and management a go-to technology for fleet managers who want to realize efficiency and safety improvements,” he says.

“Combining those capabilities with our Modus Go insurance telematics platform creates a new market dynamic where drivers and insurance companies work together to improve safety, which ultimately leads to lower costs, both human and financial.”