If you’ve read our introductory blog on telematics, you’ll know why they can be beneficial to your business, but perhaps you’re wondering what kind of telematics are suitable for your operations. Our National Strategic Underwriter for Mobile Plant and Equipment, Gary Woodhams, reveals what’s currently on the market and how to find the best telematics solution for the task at hand.
What is currently on the market?
One of the most comprehensive telematics systems on offer is Cat Link from Caterpillar which offers a suite of integrated ‘cloud-based’ software for Cat machine owners that transmits data straight from your machinery to your device.
Komatsu’s Komtrax and Hitachi’s ZXLink have also incorporated remote monitoring systems, while manufacturers like Kubota are trialing the technology in the UK and Canada.
Don’t have access to these because you have older models of mobile plant or not sure what kind is right for you?
“There are a wide range of telematics technology and inventory management software available that you can install on your mobile device to get you started straight away,” notes Gary
These kinds of software are automatic systems that can send alerts when inventory is low, track where equipment is and how it is performing, as well as keeping your project on track with automated scheduling, easy project billing and even employee timesheets.
“These can also mitigate the risk of slow customer service and provide your businesses with instant data that informs teams and technicians, reducing the reliance on manual entry and paperwork, and the chance of human error,” says Gary
“From an insurance perspective, telematics is also helpful as it allows us to have a better view of your business. For example, the GPS systems have allowed us to monitor the location of equipment, which is ideal from a theft prospective and with the data these machines are collecting we can identify if the equipment has been misused/overloaded/sitting idle all day, basically any operating error. Noting this technology was accommodated back in 2005 across the insurance industry and rates were adjusted to reflect this technological advancement,” he adds.
There are numerous GPS tracking and monitoring systems in the market, however, manufacturers always will support their own equipment more specifically. Have a look at some of the examples below:
https://www.deere.com/en/construction/construction-technology/machine-monitoring-network/
https://www.hitachiconstruction.com/service-support/remote-machine-monitoring/zxlink/
https://www.komatsu.com.au/support/komtrax
By implementing telematics and taking out the right insurance, you can feel confident your business operations and equipment are protected. Chat to one of our experts today on 1800 684 669 to see what our comprehensive Yellow Cover policy has to offer and how it can keep your plant and equipment covered.