Gartner® Hype Cycle™ for Digital Life and P&C Insurance, 2023(1) “tracks the most significant IT directions in applications, analytics and technologies relevant to life and P&C insurance. The 2023 Hype Cycle is aligned to the 30 most important technologies and trends for insurance CIOs.”
“Second-generation insurance telematics offerings combine additional data, hosting and integration to support a new range of behavior- and usage-based products and a growing focus on safety and prevention services. Insurance telematics 2.0 provides a new way for insurers to engage with policyholders to promote safer driving, accelerate accident response and save lives in the event of an auto accident, as well as build stronger relationships and loyalty.”
Targa Telematics has been mentioned for the second time in a row as a Sample Vendor for Insurance Telematics 2.0 in the Gartner Hype Cycle for Digital Life and P&C Insurance, 2023.
Targa Telematics supports its partners and their customers by providing more accurate and reliable risk profiles, effective systems to combat fraud, and detailed, automated, and timely accident reconstructions. Leveraging its fleet management capabilities, the company offers a range of services which include gathering and analyzing driving data, a 24/7 control room, SVT and SVR services, fraud prevention services, e-assistance as well as claims-related data such as crash detection and FNOL. The company’s core capabilities in insurance telematics are related to crash detection and other claims-related telematics features.
Furthermore, Targa Telematics provides its expertise and technology to insurance companies, enabling them to develop innovative usage-based insurance products. Factors that are analyzed for UBI include, for example, speed in relation to the speed limit, seatbelt usage, acceleration/deceleration and milage covered, permitting the co-creation of new flexible insurance products based on pay-per-use and pay-as-you-drive frameworks.
Also the company develops fast, scalable solutions that allow insurance companies to correctly manage the coverage of new sustainable mobility services, such as car sharing and peer-to-peer.
(1)Gartner®, “Hype Cycle™ for Digital Life and P&C Insurance, 2023”, Laurie Shotton, Published 6 July 2023
