IMS, part of Trak Global Group and one of the world’s top three providers of connected car data solutions to insurers, mobility operators and governments, is pleased to announce the launch of the IMS Vehicle Data Exchange, a new service which provides live, real-time access to vehicle insights and mobility data from OEM-embedded hardware and any aftermarket device, including the only one-stop solution for all aftermarket connectivity options.
Commenting on the launch, Leon Hurst, CEO, Mobility Division for IMS, explained that leasing, rental, and fleet companies grapple constantly with the cost and complexity involved in getting data from fleets with a diverse mixture of brands, models, and telemetry technology. Ultimately, spending too much time focused on building bespoke data access solutions can distract organisations from evolving the customer experience and negatively impact operational efficiencies. Additionally, insurers need new insights about existing and prospective policyholders and are increasingly turning to vehicle and driving data, such as actual vehicle mileage and garaging locations, which can come directly from the vehicle or in combination with aftermarket data options.
For IMS customers, the Vehicle Data Exchange removes the complexity and resource burden of having to manage multiple aftermarket data collection sources and align multiple OEM partnerships. Instead, IMS customers get access to real-time telematics data from any data source, across any mixture of vehicles. Through the Vehicle Data Exchange, this data is intelligently aggregated, normalised, and enriched, then delivered securely via a single configurable interface, offering actionable insights that customers can operationalise instantly and easily.
Leon noted: “The IMS Vehicle Data Exchange works across brands, models, and telematics technologies to fully connect all users.”
He said: “Unified access to both OEM embedded telemetry and any aftermarket sensor ensures fleet managers, insurers, and vehicle owners have total control via the only one-stop solution available in the market. By providing our customers with immediate access to live, actionable data and insights, their focus can shift to operationalising the value they bring, proactively growing revenues, and improving customer experiences.”
Key features of the IMS Vehicle Data Exchange include:
· Full connected vehicle insight and intelligence through OEM embedded hardware and any aftermarket device enabling real-time access to odometer (ODO) readings, trip data, vehicle health information, consumables, driving behaviour, accident detection, claims management, and usage-based verification.
· Compatibility with any light, medium, or heavy-duty vehicle and all vehicle data sources through IMS’ data-source agnostic model, providing full coverage for any multi-marque vehicle fleet.
· OEM integration for the direct ingestion of embedded telemetry data, supporting major automotive brands such as Peugeot, Citroen, Vauxhall, BMW, Ford, Fiat, Jeep, Mercedes-Benz and many more.
· One-stop solution for procuring all aftermarket data sources from IMS and any other prominent third-party brands, including OBD, J-Bus, professionally installed devices, smartphone applications, and other low-cost connectivity options.
· End-to-end data accuracy and security through cleansing and normalisation of data to ensure high fidelity, integrity, and precision across all data sources.
“The IMS Vehicle Data Exchange gives us access to live, real-time odometer readings which allow us to proactively book and arrange scheduled maintenance servicing,” said Gavin Clisby, Operations Manager at Ogilvie Fleet Ltd, a leasing organisation currently using the Vehicle Data Exchange to manage leases on corporate fleets in real-time.
“Specifically, we can now easily identify which vehicles are in danger of incidents, such as premature belt failure, so that we can prevent potentially extensive engine repairs. IMS’s one stop, vehicle connectivity solution means we have better control over in-life lease management to provide better customer service based on insights like vehicle faults, among other clear benefits, which lead to improved residual values.”
IMS lease and mobility customers in the UK and EU are currently benefitting from programmes using the IMS Vehicle Data Exchange, and new customer programmes are underway with insurance providers in North America.
For more information on the IMS Vehicle Data Exchange, including videos, whitepapers and datasheets, visit www.ims.tech/vdx.