15 May 2024

Targa Telematics’ “Smart Vehicle Protector” set to decrease vehicle thefts in the UK.

In the landscape where vehicles represent a key asset for companies and fleet managers, Targa Telematics and Viasat have announced a significant achievement in the battle against theft.

Statistics obtained from data collected by Targa Telematics and Viasat’s network of Operations Centers reveal that in 2023, theft incidence within fleets, comprising over 1 million vehicles under 5 years old, decreased by more than 30%. The implementation of Smart Vehicle Protector, a technological solution rooted in Artificial Intelligence, is credited with this achievement, leveraging predictive capabilities to prevent theft.

The decrease in thefts is largely attributed to the preventive measures implemented by Targa Telematics and Viasat. Their advanced technological solutions leverage Artificial Intelligence and Machine Learning algorithms to identify potential theft risks proactively. Drawing from over two decades of industry expertise, these solutions preemptively address risks, often days before any incident occurs.

The adoption of Smart Vehicle Protector brings tangible benefits to customers: for fleets encompassing around 100,000 vehicles, cost savings of about £8 million* can be expected, as stolen vehicles need not to be replaced. Moreover, timely vehicle recovery translates to reduced restoration costs (sometimes even before the customer reports it), estimated at about £546,250**. Additionally, the solution helps with fraud detection, allowing customers vital insights and enhancing the reliability index of car rental services.

Thomas Smith, UK Country Manager at Targa Telematics, commented: “We provide our customers with a comprehensive asset protection service, leveraging our extensive experience with major fleet customers, including rental and leasing companies. Through the development of Artificial Intelligence and Machine Learning algorithms, we create dynamic risk models and constantly update behavioral patterns, cross-referencing various types of point and contextual data, enabling proactive intervention to prevent theft.”

The hardware components onboard Smart Vehicle Protector perform a wide range of functions simultaneously, seamlessy integrating theft prevention with various services aimed at optimizing business operations. They also empower companies to innovate and diversify market offerings, tailoring contracts to meet the specific needs of end customers.

* Considering an average vehicle value of £15,300 (conversion rate as of May 2024)

** Considering  an average repair cost of approximately £1,700 per vehicle

 

 

TARGA TELEMATICS 

Targa Telematics is a leading global player in the field of IoT and the development of digital solutions and platforms for connected mobility. For more than two decades, the Company has marketed a range of telematics, smart mobility, and IoT platform technology solutions for short- and long-term rental companies, finance companies, and large fleets, ranging from insurance telematics to asset and fleet management, from remote vehicle diagnostics and telemetry, professional and construction site vehicles, to airport vehicle management. Following the acquisition of Viasat Group, finalized in 2023, Targa Telematics has strengthened its foothold in European markets by virtue of a strong presence in countries such as Italy, England, France, Spain, Portugal, Belgium, Poland and Romania, as well as in Chile, and is capable of working on projects of an international nature with dedicated local teams. Targa Telematics participates in the United Nations Global Compact and adheres to its principles based on a responsible approach to business.

For further information: 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