Geotab, a provider of IoT and connected transportation, and Xtract, a provider of digital First Notice of Loss (eFNOL) and real-time collision reconstruction analytics, 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, executive vice president 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 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, the 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.”
