VisionTrack has announced today that it is launching a new video based telematics camera from November 2017, designed to significantly reduce the usual costs associated with this technology.
Following a string of successes related to its award winning Internet of Things (IoT) platform, the business will be the first in the UK to launch the VT2.3G which is designed especially for the insurance sector with 3G, full HD recording and insurance grade GPS and G-sensor.
VisionTrack has already gained significant attention in the industry for its Microsoft Azure hosted IoT platform, winning awards for excellence in innovation from Celent Model Insurer and Gartner. Clients utilising the technology have boasted rates of disputed claims falling to less than 1% and fault claims concluded within 72 hours.
VisionTrack’s offering includes the option for white-labelling, an online portal and app where footage can be viewed in real-time, provide instant FNOL alerts and predict driver behaviour.
Simon Marsh, Managing Director of VisionTrack commented: “With changes such as Ogden and IPT significantly affecting the prices of policies for consumers it’s great to be able to offer a new GDPR compliant product that will make video based telematics affordable for personal lines and bring substantial benefits to the bottom line of insurers and brokers.
Simon added: “I’m passionate about road safety and I truly believe that what we are doing will, in the long term, help prevent road incidents in the first place. There is an enormous benefit both to the consumer and the insurer in terms of security and ease with claims liability and I’m delighted to be the first business bringing these cameras to the UK market.”