Usage-based insurance (UBI) paired with vehicle telematics is an evolutionary step over traditional risk rating methods for insurance underwriting.
The World Economic Forum defines the Fourth Industrial Revolution as "characterized by a fusion of technologies that is blurring the lines between the physical, digital and biological spheres."
The FMCSA ELD mandate went into effect in December 2017, and regular enforcement will begin April 1, 2018. With very few exceptions, truck drivers are subject to the FMCSA's Hours of Service (HOS) rule and must have either an Electronic Logging Device (ELD) or an automatic onboard recording device (AOBRD) installed.
Vehicle sharing has been around in some form for a long time, and now technology and demand have laid the foundation for a new service platform: Vehicle as a Service (VaaS). In urban areas where vehicles are used mainly for short trips, car and ride sharing subscription services use mobile apps to provide easy scheduling and access to vehicles.
The IoT industry is booming, and big data is major factor in that growth. You've invested in a connected solution for your business to operate it more efficiently and stay competitive.
Heavy construction equipment theft affects rental companies too. Sometimes equipment isn't returned or a renter provides fraudulent information on the contract. Of course, the theft of rental assets occurs on the jobsite.