May 4, 2015 – Seattle, WA, and Centreville, VA – ATG Risk Solutions, creators of the FAIR™ Score safe driving index and the first telematics data clearinghouse to enable usage-based insurance (UBI) programs for auto insurance carriers, announced today a partnership with Carfax. As part of the agreement, ATG and Carfax will launch a joint marketing venture to educate commercial auto insurers on how data from both companies helps improve risk management, underwriting and loss prevention.
The ATG Clearinghouse allows auto insurers to access and verify vehicle information and driving analytics to enhance their underwriting and ratings processes. With the world’s largest commercial telematics vehicle database, the permissions-based ATG Clearinghouse serves as a secure and trusted repository of detailed data on how, where and when vehicles are being driven.
“We are delighted to partner with Carfax to empower commercial auto insurers with unprecedented rating and pricing precision through the application of driving data, comparative fleet safety scores and analytics,” said ATG Risk Solutions Founder and President Chris Carver. “Along with consumers and dealers, many insurance companies turn to Carfax for vital vehicle data. Now, those underwriters and risk managers can also tap into the billions of miles of verified driving data available in the ATG Clearinghouse.”
Carfax maintains the largest vehicle history database ever assembled, comprising more than 14 billion unique records from 92,000 data sources. Users see details such as mileage history, number of owners, branded titles, reported damage events and more.
ATG gathers, stores, normalizes and standardizes vehicle and driving data from telematics service provider fleet management companies (TSPs) and other data sources. Furthermore, ATG facilitates the private and secure transaction and transmission of this data between TSPs and insurers, following the consent of the policyholder/fleet owner. In so doing, ATG serves as a single, standardized data source that integrates seamlessly with the insurance carriers’ underwriting process.
“Carfax and ATG are equally committed to providing information that helps our customers make better decisions,” said Dan Hill, National Sales Director for the Carfax Banking & Insurance Group. “Now, commercial auto insurers can access Carfax and ATG data that helps them better understand how specific fleet vehicles are operated, so they can more accurately assess and rate the risk.”
(www.carfax.com) Carfax, a unit of IHS Inc. (NYSE: IHS), is the vehicle history expert for used car buyers, sellers and the automotive industry. Carfax created the Vehicle History Report in 1986 and continues to develop innovative services – like Carfax Used Car Listings and myCarfax – that make it easier to buy, sell and service used cars. The company maintains a database comprising over 14 billion vehicle history records from more than 92,000 sources worldwide. Contact the Carfax Banking and Insurance Group at 800-789-6232 or visit our website http://www.carfaxbig.com/to learn more about specific applications for your business and take advantage of our discounted corporate rates. Based in Englewood, Colorado, USA, IHS is the leading global source of information, insight and analytics in the automotive industry and other critical areas that shape today’s business landscape.
About ATG Risk Solutions:
ATG Risk Solutions (ATG) is the leading provider of connected vehicle data and proprietary vehicle safety scoring resources for underwriting and claims for the property and casualty insurance industry. The company facilitates the exchange of data between Telematics Service Providers (TSPs) and their business fleet customers’ insurance carriers in a unique data clearinghouse that is shaping the future of auto insurance. The ATG FAIR Score (Forward Assessment of Indexed Risk) provides a contextual view of how a fleet is performing in comparison to other fleets, by class and territory, taking into consideration such factors as road use, traffic, weather, collision reports, road maintenance and other environmental and operational data. The ATG Clearinghouse offers a trusted and secure means by which the insurer can verify and assess the risk of covered vehicles in a policyholder’s fleet, helping insurers improve underwriting consistency, and helping fleet customers increase operational safety, access insurance benefits and lower overall insurance costs. For more information, please visit www.atgrisk.com
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FAIR Score and ATG Risk Solutions are trademarks of Maris Ltd. dba ATG Risk Solutions. CARFAX is a registered trademark of Carfax, Inc.