Targa Telematics – one of the leading global players in the field of technologies dedicated to the Internet of Things (IoT) and the development of digital solutions and platforms for connected mobility – announces the acquisition of the telematics business of Earnix, global leader in the development of intelligent SaaS solutions for insurance companies and banks.

Targa Telematics will assume ownership of Drive-it, the Israeli-based business unit headquartered in Haifa, which has a solution able to develop behavioral analysis of drivers, leveraging machine learning and Artificial Intelligence technologies.

The integration of this state-of-the-art solution into its portfolio and the Israeli technology development hub will give rise to Targa Drive, Targa Telematics’ solution dedicated to the digital transformation of the insurance industry.

Targa Drive is a UBI telematics solution based entirely on smartphones, combining an app capable of collecting a large set of data related to specific driving situations, such as braking, acceleration, driving distractions, speed or cornering. The solution also allows the user to distinguish car travel from other modes of transportation, as well as the driver from the passenger.

The application also makes it possible to generate predictive and personalized scores, useful to insurance companies for defining the risk level of their policyholders and complements the range of products for the insurance world from Targa Telematics and Viasat by analyzing new sources of behavioral data, including distraction from driving, one of the most frequent causes of road accidents.

“We are continuing to invest in the integration of innovative companies that allow us to constantly raise the level of effectiveness of our solutions for designing the mobility of the future”, commented Nicola De Mattia, CEO of Targa Telematics. “By virtue of the synergies resulting from the integration of Drive-it’s know-how and state-of-the-art technologies, Targa Telematics will further strengthen its leadership in the insurance market, offering its clients an increasingly wide range of services, supporting them with personalization, and making their products profitable”.