Redtail Telematics scoops Ford connected vehicle data deal
Ford has signed up Redtail Telematics as a technical partner and reseller of connected vehicle data to motor insurers for both personal and commercial lines in the UK.
The agreement will see Redtail Telematics use its expertise to create bespoke processed data streams from Ford vehicles’ multiple sensors, enabling insurers to maximise their understanding of policyholders to manage premium, risk, reward and claims processes.
Significantly, the deal does not need ‘black box’ technology to be installed in the vehicles, offering a cost-effective alternative. Instead, subject to customer consent, data is extracted from the vehicle, helping insurers to reach new market segments who pay lower premiums.
Moreover, while the Redtail platform supply in-depth data on the standard parameters for usage-based insurance – including speed, acceleration, braking and others – Redtail can also obtain a unique range of data suites from the vehicle for multiple parameters, which can include the operation of seat belts, status of Advanced Driver Assistance systems or the use of an on-board vehicle alarm.
These bring added benefits to insurers in terms of management of risk, premium and claims, enhanced by the accessibility and usability of the existing and familiar Redtail APIs, data science and portals.
Dr Colin Smithers, CEO, Redtail Telematics, explained: “Redtail Telematics’ partnership with Ford in the UK helps insurance providers use connected vehicle data – without the need for plug-in devices – to inform their usage-based insurance programs, improve their underwriting process, and pass along driver behaviour discounts to those Ford vehicle owners who qualify.”
Mark Harvey, director, enterprise connectivity, Ford of Europe, added: “Ford is excited to further extend its usage-based insurance offering in partnership with Redtail Telematics, which will allow our customers across the UK to benefit from even greater value for money insurance policies.”