Omnitracs to Join Verisk Data Exchange
Alliance with fleet management pioneer deepens Verisk Data Exchange presence in commercial auto insurance market
JERSEY CITY, N.J., June 5, 2018 — Verisk (Nasdaq:VRSK), a leading data analytics provider, today announced a strategic alliance with Omnitracs, LLC, a global pioneer of fleet management solutions to transportation and logistics companies. As the first large-fleet commercial telematics service provider to align with Verisk, Omnitracs will now offer its subscribers the ability to contribute data to the Verisk Data Exchange™ and apply analytics to the operational safety of their connected fleets.
Through the alliance, fleet owners have the option to transfer driving data collected by their Omnitracs telematics platform, the company’s Software-as-a-Service (SaaS) fleet management solution, into the Verisk Data Exchange. By contributing their driving data, Omnitracs subscribers will be able to take advantage of fleet insurance services from participating insurance providers and receive operational safety feedback through focused analytics while keeping fleet managers in complete control of their data.
“We’re excited to expand our telematics-based insurance services to Omnitracs customers and help the insurance industry address the challenging commercial auto risk segment through innovative tools and solutions,” said Saurabh Khemka, senior vice president and general manager, Verisk IoT/Telematics. “Through the Verisk Data Exchange, we see great potential to enhance the way insurers manage commercial auto risk while providing added value and experience to fleet operators and telematics service providers.”
“This alliance is a compelling blend of our decades of experience with safety and predictive analytics and Verisk’s leading insurance-focused data analytics,” said Brad Taylor, vice president of data and IoT for Omnitracs. “We’re excited to offer this as an option to Omnitracs subscribers and for the potential to create a portfolio of risk management solutions for our joint customers.”;
As a hub for connected vehicle and smart home data, the Verisk Data Exchange is the insurance industry’s leading Internet of Things (IoT) platform, helping personal and commercial lines insurers achieve more accurate ratings, proactive loss mitigation services, and faster first notice of loss. The exchange now has more than 3.5 million vehicles with over 43 billion miles of driving data—and growing.
For more information, visit verisk.com/data-exchange.
About Omnitracs, LLC
Omnitracs, LLC, is a global pioneer of trucking solutions for all business models. Omnitracs’ more than 1,000 employees deliver software-as-a-service–based solutions to help over 12,000 customers manage nearly 1,100,000 assets in more than 70 countries. The company pioneered the use of commercial vehicle telematics 30 years ago and serves today as a powerhouse of innovative, intuitive technologies. Omnitracs transforms the transportation industry through technology and insight, featuring best-in-class solutions for compliance, safety and security, productivity, telematics and tracking, transportation management (TMS), planning and delivery, data and analytics, and professional services.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
MWWPR (for Verisk)