GPS software has evolved a lot over the last decade. Improving driver safety and the rise of usage-based insurance are among the key emerging areas, says Ananth Rani, chief executive officer and co-founder of Azuga.
In a recent discussion in Reeves Journal, he shares, “GPS software has made the lives of fleet managers much easier by giving them real-time insight into fleet operations. Managers now have the ability to be proactive instead of reactive within their fleets. The ability to track a vehicle’s health, location, driving habits and fuel usage are well-known, but the biggest change in the past five years has been the emphasis on improving safety using gamification and the rise of usage-based insurance or UBI.”
“With a single commercial accident costing as much as $1.4 million, fleet managers have used gamification tactics to promote safe driving habits and reward those drivers who have made the required changes. Finally, UBI has become a commonly used method for auto insurers to align driving behaviors with premium rates in the past five years.”
Fleet data can prove valuable—besides improving safety and maintenance
“Our software allows business owners and fleet managers to turn vehicle and driver behavior data into intelligence that improves operations and safety while also reducing cost and risk,” Rani says. Some features include GPS tracking, location-based timestamps for timecards, driver rewards and coaching, geofencing and custom reports.
“Contractors and contracting businesses can monitor and address unsafe driving habits, such as hard braking and idling, in real-time. One contractor reduced speeding events by 93% within six months. Additionally, contractors can rest assured their fleet is in the best shape. By installing fleet tracking, customers can improve maintenance schedules through the use of the maintenance solution and deals add-on, which proactively alerts contractors of vehicle issues and provides local coupons/discounts on the associated service.”
“The GPS/wireless devices market is projected to see fast growth and expand to more than 14 million units. As a result, creative new ways to leverage vehicle data will drive traditional costs of fleet tracking systems down, helping more small and medium size businesses gain the benefits of groundbreaking tools such as accurate driver behavior analytics that were previously only affordable by large fleets.”