Leading supplier of intelligent mobility technology solutions, Verra Mobility Corporation, today announced a collaboration with Xtract, a leader in digital First Notice of Loss (FNOL) and near-real-time car collision reconstruction insights for automated incident management.
Through this collaboration, Verra Mobility will be able to provide its fleet clients with the capacity to enhance the speed and precision of claims processing by automatically compiling data from connected vehicles and conducting near-real-time trip analysis to more effectively identify and handle collision incidents.
In order to shorten the time and risk associated with resolving claims, Xtract’s digital reporting method replaces paper accident forms and makes use of vehicle telematics and artificial intelligence to enable the recording of standardized event data.
Read also- Malaysia-Based FinKnight has Raised Undisclosed Amount in Funding
Fleet managers can take preemptive measures to mitigate risk by being notified instantly through the Xtract platform when one of their cars is involved in an accident.
“Incident management is a time-consuming, manual and painstaking process for fleet owners and fleet management companies,” said Steve Lalla, Executive Vice President of Verra Mobility’s Commercial Services division. “Xtract’s innovative approach to simplify and automate incident management is a perfect complementary fit in our suite of fleet solutions. Verra Mobility believes data generated from connected vehicles will increasingly enable more efficient solutions to benefit fleet operators, and incident reconstruction is a crucial use case for how data can be used to save fleets time and money.” Verra Mobility offers services for title and registration as well as handling of toll payments and fines for commercial fleet cars.
“A fleet of any size needs immediate incident notification, incident reconstruction, and a rapid response plan,” said Tim McCarthy, EVP of Business Development at Xtract. “We developed Xtract’s AI-powered platform to detect and interpret telematics data to take the stress out of the entire process from reporting all the way through to insurance claim resolution. We are excited to partner with Verra Mobility to reduce operational expenses and mitigate risk for fleet customers, working together to make the lives of fleet managers easier and more profitable.” Major fleet owners, operators, and managers use its fleet management services to conveniently and automatically pay over 300 million toll transactions and infraction costs for over seven million vehicles worldwide each year. Read also- India-Based TransBnk has Secured $4 Million in Series A Round Funding Versa Mobility is a major provider of smart mobility technology that makes transportation safer, smarter, and more connected. In the center of the mobility ecosystem, the company connects vehicles, hardware, software, data, and people to provide safe, efficient solutions worldwide. Xtract aggregates telematics, weather, maps, video, repair estimation, and other data sources to create a digital First Notice of Loss (FNOL) and accident reconstruction solution to speed up and enhance claims processing. Telematics data helps claims handlers resolve claims and reduce risk by identifying and analyzing incidents in real time.About Verra Mobility
About Xtract
