The two companies will bring together the latest advances in contextual risk data, fleet telematics and dynamic insurance pricing to help vehicle operators reduce their premiums by as much as 20%.
“We are working together with Humn to create a unique solution that delivers a comprehensive understanding of risk, so commercial fleets can cut insurance costs while improving road safety,” explains Steve Thomas, Managing Director of Ctrack by Inseego. “Backed by data, the powerful, real-time insight ensures flexible and fair insurance based on where, how and when the vehicles are driven.”
Helping customers reduce their premiums
On a mission to improve road safety, Humn built its own risk & insurance platform, Rideshur, which tracks thousands of environmental & behavioural data points in real-time, providing world-leading transportation risk modelling capabilities.
As part of the agreement, Ctrack Online, the web-based tracking solution, will be integrated with Humn’s data-driven insurance management system, Rideshur. This will enable a usage-based premium, priced per trip in real-time, that considers location and driver performance alongside thousands of other risk factors such as weather, time of day and driver fatigue. Through the analysis of the insight, the solution will also recommend remedial action to be taken with drivers to improve their behaviour on the road.
James Cowen, Chief Commercial Officer (CCO) of Humn commented: “Our insurance offering, working seamlessly with Ctrack Online, will be the smartest way of assessing and reducing risk for vehicles. As a result, we believe it can dramatically cut a fleet’s premium by reducing accident frequency by up to 65% and average claims cost by up to 25%. We are excited by this strategic partnership with Ctrack and the significant opportunities it offers both businesses moving forward.”
Founded in 1985, Ctrack specialises in the research, development, manufacturing, sales and support of technologically advanced fleet management, vehicle tracking and personal tracking solutions. The company offer a wide range of vehicle tracking, fleet management, satellite navigation, workflow, mobile job planning and security tools with cost effective and scalable solutions. As a result, over 1,200,000 units have been deployed in 53 countries across five continents.