Targa Telematics delivers cutting-edge technology and tailored
insurance solutions to its clients, setting a new benchmark in the
industry and generating substantial insurance cost savings.
SAN
ANTONIO, July 10, 2024 /PRNewswire/ -- Frost &
Sullivan recently researched the telematics insurance industry
and, based on its findings, recognizes Targa Telematics with
the 2024 European Enabling Technology Leadership Award. Targa is a
leading innovative solution provider that enhances driving behavior
analysis, risk assessment, and insurance personalization for short-
and long-term rental companies, leasing and insurance operators,
and large fleet managers.
Targa's state-of-the-art technology platform and deep industry
knowledge help European insurers stay ahead of the curve by
offering comprehensive solutions that encompass hardware, software,
and data analytics. The company's telematics platform provides
real-time data on driving behavior, vehicle usage, and
environmental conditions, enabling insurers to develop more
accurate risk profiles and tailor their policies to individual
drivers. By integrating advanced machine learning algorithms and
artificial intelligence, the company delivers highly personalized
and efficient insurance products that meet the evolving needs of
its clients.
A dedication to insurtech innovation and customer-centric
solutions is reflected in Targa's collaborative approach with
clients. The company works intimately with insurers to understand
their unique challenges and develop tailor-made solutions that
cater to their needs. With this collaborative approach, Targa has
successfully implemented numerous telematics insurance programs
across Europe, providing
significant value to insurers and policyholders, reducing
accidents, and dramatically lowering costs.
"Moreover, the growing adoption of connected vehicles, coupled
with advancements in in-car services, data generation, and safety
awareness, has led to increased demand for tailored insurance
solutions in Europe. Targa's
expertise in technology and understanding of regional needs
positions the company as a valuable partner for insurers seeking to
implement successful telematics insurance programs," said
Parduman Satpal, Senior Research
Analyst - Mobility Media at Frost & Sullivan.
Targa is positioned at the forefront of this shift, providing
insurers with the tools to develop and deploy effective insurtech
programs. Moreover, the company enables insurers to enhance risk
assessment processes, provide more accurate assessments, and
improve customer satisfaction.
With the ability to adapt to regional needs and regulatory
environments, Targa has further solidified its position as a leader
in the industry. A deep understanding of local markets allows the
company to create highly relevant solutions for European markets,
such as Spain, France, Belgium, Poland, and Italy. This localized approach ensures that
Targa's clients can meet the ever-evolving needs of their customers
while complying with regional regulations and standards.
"[Targa] commands over 35% market share for installed insurance
telematics devices across Europe;
its diverse range of products tailored to different consumer
segments positions it as a comprehensive solution provider for all
telematics-related insurance needs," noted Samantha Fisher, Best Practices Research
Analyst.
Each year, Frost & Sullivan presents this award to a company
that develops a pioneering technology that enhances current
products and enables new product and application development. The
award recognizes the high market acceptance potential of the
recipient's technology.
Nicola De Mattia, CEO of Targa
Telematics, remarked: "Targa Telematics offers a range of products
for the insurance market, enabling the development of detailed and
reliable profiles, as well as optimal risk management, both for
private and corporate clients and for insurance companies. This
award highlights the value that Targa Telematics brings to the
insurance market, thanks to its constant drive for digital
innovation and its deep understanding of both industry dynamics and
the specific needs of insurance clients. A solid positioning
recognized internationally, further strengthened by the acquisition
of the Viasat Group and Drive-IT"
Frost & Sullivan Best Practices Awards recognize companies
in various regional and global markets for demonstrating
outstanding achievement and superior performance in leadership,
technological innovation, customer service, and strategic product
development. Industry analysts compare market participants and
measure performance through in-depth interviews, analyses, and
extensive secondary research to identify best practices in the
industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned
for its role in helping investors, corporate leaders, and
governments navigate economic changes and identify disruptive
technologies, Mega Trends, new business models, and companies to
action, resulting in a continuous flow of growth opportunities to
drive future success. Contact us: Start the discussion.
Contact:
Tarini Singh
P: +91- 9953764546
E: Tarini.Singh@frost.com
About Targa Telematics
Targa Telematics is one of the leading global players in the field
of IoT and in the development of digital solutions and platforms
for connected mobility.
With over 20 years' experience in connected vehicles, it
provides technological solutions in telematics, smart mobility and
digital IoT platforms for mobility operators. The company targets
short- and long-term tenants, large financiers and large fleets,
with a range of services from insurance telematics to asset and
fleet management, remote diagnostics and telemetry for vehicles,
professional and construction site vehicles, as well as airport
service vehicle management.
With the acquisition of the Viasat Group in 2023, Targa
Telematics has strengthened its presence in European markets, with
a strong presence in Italy,
England, France, Spain, Portugal, Belgium, Poland and Romania, as well as in Chile, with the capacity to operate within
international projects with fully dedicated local teams.
Targa Telematics is a participant in the United Nations Global
Compact and shares its principles based on a responsible business
approach.
www.targatelematics.com
TARGA TELEMATICS
Elena Bellini, Head of
Marketing, Cell. 39 335 135 1277
elena.bellini@targatelematics.com
Susanne Furini, Communication
Manager, Cell. +39 345 7274925
susanne.furini@targatelematics.com
Barabino & Partners
Camilla Giacomelli, Tel. 0044
(0)7570 561 249 c.giacomelli@barabino.co.uk
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SOURCE Frost & Sullivan