Industry Overview and Challenges
Automakers and distributors have the chance to capitalise on after-sales revenue streams, which offer greater potential than the one-time revenue earned from selling vehicles. Telematics facilitates the wireless collection of a broad spectrum of data, such as location, usage patterns, maintenance requirements, and performance information. By using telematics gateways, they can monitor the health of their sold vehicles.
Outlined below are the crucial factors that empower the automotive industry to enhance its customer service: vehicle and spare parts maintenance, fuel monitoring, user-based insurance and vehicle health and safety.
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Rising fleet life: Prescriptive maintenance notifications are provided to prevent breakdowns, monitor the health status of spare parts to ensure timely replacements, and maintain optimal vehicle performance.
Insurance Metrics: The system assesses the owner's risk profile by considering factors such as distance covered, usage, and driving proficiency. This information is used to establish user-specific insurance premiums.
Driver Monitoring: Driver behavior is analysed, and scorecards are generated to evaluate driving patterns. Real-time alerts and video feeds are available to address instances of overspeeding, harsh/distracted/drowsy driving.
Analytics and Reporting: The system offers comprehensive trip logs, which enable holistic trip tracking, as well as customised reports. Fuel and Service Maintenance reports are also available, along with video playback functionality.