London, 5 March 2012
TomTom fleet management technology has been recognised by leading UK motor insurer, Equity Red Star, as a key component in a new product aimed at lowering risk and insurance premiums for businesses.
The deal with Equity Red Star follows hot on the heels of a consumer partnership with broker Motaquote and means TomTom technology will be used in a risk management capacity for both the consumer and business markets.
Businesses using TomTom's fleet management technology to manage risk will be able to reduce their premiums as part of the insurer's new Equitrack product.
“Innovation is central to TomTom's corporate ethos and our unique telematics offering enables insurance companies to offer increasingly bespoke products, while helping customers to take greater control over their insurance premiums” said Thomas Schmidt, TomTom Business Solutions' Managing Director.
Equity Insurance Group's CEO Ian Foy added: “Initial reaction to Equitrack from our brokers and their customers has been very positive. This is technology being applied in a highly pragmatic way to the commercial motor market”
TomTom technology offers a range of benefits to businesses including helping to reduce operating costs, such as fuel consumption, and driving business efficiencies. Reporting modules benchmark drivers and vehicles giving vehicle managers the tools to profile drivers, identify training needs, improve safety and reducing costs.
Live Active Driver Feedback engages drivers so they can change their behaviour behind the wheel. This interactive approach yields better results as the driver is alerted when driving in an adverse style, and a simple summary informs them of their progress.