Saravanan added that the company’s plan is to decrease the customer’s operating expenditure. “The data can find if a driver is driving safely. Then the probability of an accident will be lower. If we can show that this customer’s fleet is always 90 per cent loaded, there is a much higher probability that he will be able to pay EMI. We are looking to extend this data with our in-house company HLF and will do it with others later,” Saravanan added. This is likely to bring down insurance costs for the consumer if his performance is better.
According to reports, by last year, the company has helped its customers save 15 per cent on costs – around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures. It was in 2020 that the company came out with the next-generation solution - Digital Nxt – to help customers in tracing and tracking, fuel management, service due reminders, and quick reactive support. Last year, the next wave of ‘Digital Nxt’ solutions – including iALERT 3.0, Uptime Solution Center and AL Care were launched. “We are looking at more prognostics, even before the vehicle fails can I diagnose and say that there is a potential for malfunctioning of the vehicle,” he said.