New FNOL opportunities for insurance companies and automotive OEMs.
After several years of intensive testing in labs, in the field, and through commercial deployment by a major OEM, Sfara is releasing to the general market its ultra low-speed crash detection technology for smartphones. This is important news to industries associated with First Notice of Loss (FNOL), where having near immediate notice of a collision provides opportunities to significantly increase the value of post-collision and repair economics.
Sfara recently announced that its crash detection provides two of the most valuable forms of FNOL, automatic and on-scene. Now, it’s adding ultra low-speed detections, completing the strongest FNOL offering on the market.
Sfara is now able to reliably detect collisions down to 9 mph, while achieving industry breakthrough performance with their ESP false positive suppression technology.
Embedded and aftermarket solutions are often not capable of detections in these lower speeds and/or they consistently generate costly false positives.
“The ability to detect collisions at low speeds opens up new revenue streams for industries concerned with First Notice of Loss (FNOL), mainly traditional insurance companies, automotive OEMs, and emerging hybrids that are disrupting traditional models,” said Erik Goldman, CEO of Sfara.
Competitor technologies typically work best in higher speed bands. However, at these speeds vehicles experience total loss, so there is no way to orchestrate the repair experience for a customer or take advantage of post collision economics.
Detecting low-speed collisions provides significant opportunities for relevant companies to offer white-glove services and control the post-collision response and repair experience. This includes avoiding double towing fees, keeping the vehicle in-network, and getting it repaired at Direct Repair Shops (DRPs), while also controlling parts and costs.
“With outreach programs, automotive OEMs outfitting their customers with Sfara’s crash detection can expect to see an increase of vehicles in their service bays from collisions that might not otherwise have been reported or serviced in authorized dealerships,” said Rocco Tricarico, CMO of Sfara.
Sfara’s crash detection is available as a secure, privacy-focused platform architected for easy international deployment. An enterprise can integrate and launch Sfara’s capabilities in their own app in as little as 10-13 weeks. Plus, Sfara’s technologies are mobile-based and don’t require additional hardware, wiring, dongles or windshield tags.
About Sfara, Inc.:
Sfara is enabling a mobile revolution in safety and control. Sfara’s patented AI technology and global platform transforms the smartphone into a secure mobile safety and analytics solution, available as a GDPR-compliant SaaS offering to our partners in the mobility space, including automakers and mobile network operators.
Capable of running on 4.6B smartphones sold worldwide since 2013, Sfara technology represents a paradigm shift for the telematics industry and our partners—offering unprecedented detection capabilities, without incremental hardware or data transport costs. Sfara provides a highly scalable, cloud-based data analytics and assurance solution designed to assist companies navigating the challenges of shifting transportation models, such as transportation-as-a-service, semi and fully autonomous vehicles, as well as fleet management and ride-sharing services.
Sfara is led by a deeply experienced executive team with over 150 billion miles driven on their leading-edge, embedded and aftermarket telematics solutions for consumer and fleet applications, including UBI and MPERs, operated throughout North America, Europe and China. Headquartered in Hoboken, NJ, Sfara also is expanding in Silicon Valley, Finland and in Germany via Sfara GmbH.
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