Have you heard of “telematics?”
Although the term and what is encompasses might still spell a relatively new phenomenon in the American business world, telematics is becoming progressively relevant in a very important sphere.
Namely, that is risk identification and claims management, something that is obviously a key concern for business owners and their insurers.
We spotlighted telematics and the increasingly integral role it is playing in things like accident investigation and claim defense against injury allegations from workers and third parties in a recent blog post.
So, what is telematics?
We noted in our April 5 entry that telematics technology “records vehicle movements via a complicated process involving GPS systems and computerized maps.”
How can its use avail company managers and their insurers?
Telematics and related technologies are being increasingly used as tools that help to address liability sources and better enable meaningful responses to accident/injury claims.
For instance, a claim that a company truck rammed into a passenger vehicle and killed its driver can be literally seen in a new light via telematics technology that constantly records a 360-degree view around company vehicles. Perhaps it was the case that the truck driver was driving safely and the other motorist was weaving erratically in and out of traffic.
The bottom-line relevance concerning telematics and the role it can play in liability-linked matters is obvious, collectively stress a growing band of adherents.
Telematics “helps us to know how to begin proceeding for investigation and defense,” says one risk-management principal for a company that has a large fleet of commercial vehicles.
The assessment that evolving technologies are growing progressively more important to insurers and company principals focused on liability concerns is gaining strong traction across the country. The increasing employment of telematics tools is strong evidence of that.