Toronto, Ontario - June 21, 2021 - Geotab, a global leader in IoT and connected transportation, and Xtract, a global leader and pioneer of digital First Notice of Loss (eFNOL) and real-time collision reconstruction analytics, today announced the availability of the Xtract analytics platform on the Geotab Marketplace, a go-to source for top organizations seeking to better manage their fleets. Enabling customers to integrate the Xtract offering within their Geotab platform, fleet managers can benefit from access to immediate insights stemming from a collision for more efficient and accurate resolution, helping to lower overall liability.
Xtract enables seamless digital collision reporting from within the Geotab platform, combined with telematics-powered collision reconstruction. By overlaying telematics data with other relevant information such as driver notes, weather, and more, Xtract’s solution is designed to facilitate an accurate and speedy assessment of an incident helping lead to lower operational expense and reduced liability exposure. These benefits also extend beyond the fleet to the insurance carrier, enabling more effective and efficient claims processes leading to improved underwriting results.
"High deductibles and escalating insurance costs place a big burden on fleets. Our telematics-powered analytics allow both fleets and insurance carriers to better manage the risks and liability associated with collisions,” said Tim McCarthy, EVP of Business Development, Xtract. “We are excited to be partnered with Geotab, working with their best-in-class telematics offering to make this solution globally available on the Geotab Marketplace.”
Geotab, the world’s leading connected vehicle company for smart city and fleets, offers an extensive ecosystem of valuable, business-focused applications and add-ons via the Geotab Marketplace which helps provide businesses with the tools needed to better manage their fleets. With the addition of Xtract on the Geotab Marketplace, over 40,000 Geotab customers worldwide will have access to a solution that helps better visualize crash data for the auto insurance industry.
“Insurance and claim services are undergoing a digital transformation,” said Jim Davis, Vice President, Insurance, Geotab. “This InsurTech transformation is led by a variety of innovative solutions that help address legacy post-collision process and cost challenges. We are excited to collaborate with Xtract to deliver valuable services within Geotab’s InsurTech ecosystem, helping to better enable our customers and insurance partners to benefit from a more seamless claims experience.”
Xtract is currently available on the Geotab Marketplace at: https://marketplace.geotab.com/solutions/xtract/
Xtract provides industry leading digital First Notice of Loss (eFNOL) and real-time collision reconstruction solutions to improve claims processing speed and accuracy. Risk managers and claims handlers can identify and analyze an incident immediately in order to resolve the claim and manage the liability exposure effectively. Please visit https://www.xtract360.com/
Geotab is advancing security, connecting commercial vehicles to the internet and providing web-based analytics to help customers better manage their fleets. Geotab’s open platform and Marketplace, offering hundreds of third-party solution options, allows both small and large businesses to automate operations by integrating vehicle data with their other data assets. As an IoT hub, the in-vehicle device provides additional functionality through IOX Add-Ons. Processing billions of data points a day, Geotab leverages data analytics and machine learning to help customers improve productivity, optimize fleets through the reduction of fuel consumption, enhance driver safety, and achieve strong compliance to regulatory changes. Geotab’s products are represented and sold worldwide through Authorized Geotab Resellers. To learn more, please visit www.geotab.com and follow us @GEOTAB and on LinkedIn.