Use Cases

  • Truck fleet reduces insurance fees by adding continuous truck and driver monitoring
  • Happy fans spend more in the new smart stadium
  • Save your supermarket customers thousands of dollars in lost food goods
  • Save the convenience store fridge!
  • A family-owned hotel tracks & recovers 100% of loaner equipment
  • Fast Food Chain Achieves 27% Energy Savings

THE PROBLEM:

Insurance companies charge most customers similar rates because they lack accurate data on asset status and driver behavior. Ideally, insurance premiums would be tailored based on driver behavior. Now that technology has made it possible to track an asset, location, driving behavior and more, insurance can be tailored per user. 

 

PHASE I:

Deployed speed, location, direction and engine on/off sensors on all vehicles. During the first month of installation, these sensors provided a complete picture of driver behavior patterns. Once the system has compiled enough data, drivers and vehicles were graded for insurance purposes. The new data-based policy was based on trucks route, driver quality and working hours. The new policy was a win-win for both insurance company and the fleet; the fleet realized a cost reduction while the insurance company reduced risk and was able to competitively price their insurance product.

 

PHASE II:

Use the data collected to provide theft alerts. With the basic monitoring in place, the IoT platform can easily identify abnormalities and add live theft alerts as a service. It is also possible to prevent theft by allowing users with the correct permission who receive the alert to shut down the engine remotely.

 

PHASE III:

Provide bullet-proof accident analysis by adding accelerometers. These additional sensors will add critical details in case of an accident and will help the insurance company provide a foolproof assessment of cause, saving time and money on incident investigation and reports as well as increasing accuracy.

 

PHASE IV:

Implement a geofence per vehicle and receive alerts when a vehicle goes off the grid. This will prevent unauthorized use of trucks and reduce gasoline and maintenance costs for the fleet.

 

BENEFITS:

 

  • Reduced costs
    Lower insurance premiums by taking advantage of personalized asset and driver tracking. Providing full cause and responsibility information in case of an accident can also prevent insurance premium changes.
  • Improved asset protection and management
     Protect your truck fleet by providing alerts or even preventing truck theft.       You can also provide alerts on trucks driving outside of a pre-defined geo-fence, reducing unauthorized truck use and associated costs.
  • Start small and scale fast
    The initial project was well defined and the fleet could easily demonstrate a positive ROI, allowing them to get budget and resource approval easily. The actual set-up and configuration did not use up engineering resources and tool just a handful of days to deploy on the platform.
  • A single app can provide dashboards, alerts and data to multiple stakeholders
    In this case the insurance company got access to a set of data and features, while the fleet had access to a different set of features and alerts, but both applications rely on the same sensors and are built on the same platform. 
  • Easily add features and services to the IoT project
    Expand your application when you can demonstrate the business case for the next phase. The platform will always be able to support the next phase as it operates with any device and can implement any business logic. The platform is also built to support cross-application dashboards, alerts and rules so each new pha se can easily be integrated in the application in the most useful manner.