Connected car data, also referred to as vehicle data, is defined as any source of data-enabled through a live connection to a vehicle providing full vehicle insight, in real-time, and includes trip data (odometer, journey information, location), vehicle health including remote diagnostics (fault Information, distance to Service, tire pressures), consumables (fuel, EV state-of-charge, DEF), driver behavior, accident detection, claims management and usage-based verification. This data can come from a hybrid of data sources, including both direct from newer vehicles via OEM embedded telematics hardware or through aftermarket telematics sources, such as OBD or professional installed devices or smarphone apps. The correct provision of connected car data typically involves a data-source agnostic vehicle data exchange which ingests, standardizes and analyzes the data, and is then enriched and passed through as solutions and services to provide real-time visibility of driving and vehicle security.
Fleet-based companies, most notably leasing, rental vehicle companies and car clubs, that have access to vehicle operation data—enabled by any telematics data source— experience distinct benefits. These benefits can be realized through these types of program features:
Driving operational efficiencies – Improved operational features at the fleet level can be gained by AI-enabled algorithms and analyses that make intelligent use of telematics data. Among the functionalities that are useful: track and trace maps that chart vehicle usage patterns, reports measuring vehicle usage, geographic searches for vehicles, and device management tools.
Mobility fleet management – Enhanced management tools for overseeing fleet operations include fleet mileage reviews, rental period reviews, mileage management reports, and improved mapping capabilities. Availability of service, maintenance, and repair organization support through shared telematics data can provide additional advantages for ensuring rental vehicle health and safety.
Theft protection and vehicle recovery – Preventing theft and efficiently recovering lost or stolen vehicles can be accomplished with these services: 24/7 vehicle monitoring, cell mast triangulation, alert configurations, email alerts, track and trace maps, and remote vehicle immobilization. Stolen vehicle alerts can be used to notify and engage third-party stolen vehicle repatriation services.
Value-added services for customers – Mobility operators can enhance the customer experience with innovative services, such as alerts about possible vehicle mechanical issues and locations of the closest repair sites, notifications of weather warnings or routing suggestions to avoid traffic problems, coaching to avoid risky driving practices (potentially lowering the rental fee), and similar types of services.
Beyond these benefits, telematics offers numerous opportunities for other innovative programs and extended program features, with an emphasis on reducing costs for mobility operators and better satisfying customer expectations.
While the types of data used by rental vehicle companies and car clubs is similar to what fleet-based leasing and SMR organizations use, the specific use cases for each type of organization can differ greatly.
To learn how rental vehicle and car clubs are benefiting with connected car data, download the white paper Telematics Benefits to Vehicle Rental Companies and Car Clubs at: https://ims.tech/resources/telematics-benefits-to-vehicle-rental-companies-and-car-clubs/
To learn the use cases that are being used by leasing and SMR organizations, access the white paper Understanding the Full Value of Telematics Data for SMR (Service, Maintenance, and Repair) And Leasing Organizations at: https://ims.tech/resources/leasesmr/
About IMS (Insurance & Mobility Solutions)
IMS (Insurance & Mobility Solutions) is a vehicle and driving data business, delivering enterprise solutions to over 350 customers including insurers, mobility operators and governments. IMS recently launched its Vehicle Data Exchange, which enables the IMS DriveSync platform to ingest and process data from any source – from OEM embedded units to smartphones and aftermarket hardware. The company, with offices in the UK, Europe and North America, has analyzed over 15 billion driving miles and its algorithms are fed by trillions of data points every hour.
More info about the IMS Vehicle Data Exchange at www.ims.tech/vdx