Targa Telematics recognised as a sample vendor in the Gartner® Hype Cycle™ for property and casualty insurance, 2024

Targa Telematics, a leading global player in the field of technologies dedicated to the Internet of Things (IoT) and the development of digital solutions and platforms for connected mobility, has been recognised as a Sample Vendor for Insurance Telematics 2.0 category in the Gartner® Hype Cycle™ for Property and Casualty Insurance, 2024 report (1).

According to Gartner, “This Hype Cycle tracks the development, adoption, and maturity of technologies and trends within the property and casualty insurance sector. P&C insurance CIOs can use this Hype Cycle to help guide investment and strategy decisions.”

The Gartner report states that, “As the business model around telematics matures, insurers need more advanced telematics offerings to combine additional data, hosting and integration to deliver a new range of behavior- and usage-based products, and support tasks such as claims, fraud, and prevention programs. Telematics 2.0 does this and supports CX needs, especially around consumer engagement, personalization and reward programs.”

Targa Telematics provides a comprehensive portfolio of solutions for the insurance market, utilising diverse data sources such as aftermarket devices, OEM data streams, and mobile-as-a-sensor technology. By leveraging these advanced digital solutions, Targa Telematics enables insurance partners to combat fraud, streamline claims management, and create precise risk profiles through automated accident reconstruction and driving behaviour analysis.

The Company also provides customised insurance solutions through its innovative Usage-Based Insurance (UBI) telematics solution ‘Targa Drive’ that enable pay-how-you-drive and pay-per-drive pricing models that are based on actual driving behaviour, distraction driving and distances travelled. Targa Drive leverages a smartphone app to gather data on driving conditions, enabling insurers to generate predictive and personalised risk scores.

By focusing on innovation within the insurance sector, Targa Telematics reinforces its commitment to helping insurers provide more flexible, accurate, and customer-focused policies, meeting their client needs.

About Targa Telematics

Targa Telematics is one of the main global players in the IoT field and in developing solutions and digital platforms for connected mobility. For over 20 years, the company has been bringing to the market a range of telematics technology solutions, smart mobility and IoT platforms for short and long-term rental companies, financial companies and large fleets, ranging from insurance telematics to asset and fleet management, from remote diagnostics and telemetry of vehicles, professional and construction vehicles, to the management of airport vehicles. Following the acquisition of Viasat Group – finalized in 2023 – Targa Telematics has strengthened its footprint in European markets – thanks to a strong presence in countries such as Italy, the UK, France, Spain, Portugal, Belgium, Poland and Romania – as well as Chile. The company is able to work on projects at international level with dedicated local teams. Targa Telematics participates to the United Nations Global Compact and adheres to its principles-based approach to responsible business.
For more information: www.targatelematics.com