Azuga has launched a new software which uses AI and Machine Learning to analyze commercial vehicle performance, driver behavior and risky events in order to help insurance providers and fleets mitigate risk.
Vehicle performance and driver behavior data is essential to helping commercial insurance providers limit their financial exposure, and, for fleets, more carefully monitoring vehicles and drivers can reduce the number of claims filed and lower insurance costs, Azuga officials said in a press release.
Dubbed SafetyIQ, the Software as a Service solution uses Machine Learning algorithms to analyze vehicle telematics data, including how fast vehicles are traveling, if and when there was “hard braking,” location-based risky events like natural disasters, and vehicle service warnings.
Insurance providers and fleet owners/managers can view the data in real-time via risk insights dashboards, and SafetyIQ automatically detects and flags business-critical vehicle and driver issues before they impact claims and operations.
SafetyIQ is in production with multiple insurance carriers in the United States.