A Pittsburgh-based data and analytics company that offers management-related services to fleet operators announced it is expanding its product line to help auto insurance carriers improve their profitability margins.
Idelic Inc., a spinout from transportation provider Pitt Ohio Transportation Group, said its new Safety Suite Platform for Insurers will aid carriers with their risk preselection and monitoring needs, which the company said could lead to better operating margins for an industry that tends to see small annual returns.
For trucking operators, Idelic's Safety Suite Platform gathers fleet performance data, telematics, camera feeds, accident reports, claims and training materials all into one dashboard. By expanding this product to auto insurers, the company said it will grant these customers a "timely and comprehensive solution" that might alter their entire risk assessment practices, allowing them to prioritize intervention programs and adjust service levels, among other types of improvements.
"This holistic view of driver performance enables insurers to make more informed underwriting decisions, monitor portfolio risk effectively, and prioritize their risk mitigation programs," Brian Filip, chief technology officer and head of product at Idelic, said in a prepared statement. "Providing these same data feeds and analytical insights at the portfolio level for insurers is a force multiplier in risk reduction across the entire commercial auto industry."
Idelic, located in the North Side, employs about 80 people. It has raised about $31 million in funding, according to figures from Crunchbase Inc.
