Using Telematics Data to Prevent Risk with Phil Powell, Chief Revenue Officer at Matrix iQ

Risky Business
Risky Business
Using Telematics Data to Prevent Risk with Phil Powell, Chief Revenue Officer at Matrix iQ

Phil Powell is the Chief Revenue Officer at Matrix iQ, an IT Services and IT Consulting company focused on bridging the gap between connected technology and intelligent insight by giving businesses the tools to track and analyze their telematics & IoT data on one platform. We discuss the future of telematics in the trucking industry, how to become better at risk management, and the foundations of route IQ and optimization.

[oo:00] Introduction

[02:06] Who is Phil Powell, and What Does He Do?

[03:43] The Shift in the Telematics Industry

[06:00] Lloyd’s Lab Pitch Day

[07:06] Trends in European Markets

[11:34] Route IQ and Optimization

[15:19] The Whole World is Looking at ESG

[16:35] Data From Autonomous Trucks

[17:46] The Betterment of Risk Management

[19:10] Plans For the Future

[21:41] What to Expect From the Insurance Tech Conference

[24:45] First Thing Phil Will Do When He Gets Into Lloyd’s Lab

[26:01] Parting Thoughts

Telematics in Trucks

What does telematics do for risks, and what does telematics do for claims? The answer is simple, nothing. Installing telematics systems and forgetting about it is like disregarding your trusty co-pilot. When it comes to risks, it’s like having a guardian angel watching over your driving habits. It keeps tabs on your speed, braking, and even how sharply you turn corners. This information is crucial for truck drivers as it helps insurers understand their safety on the road, possibly leading to lower premiums. On the other side of claims, Phil explains that telematics can provide crucial data, like the truck’s speed at impact, helping insurers figure out what happened. You can call it the black box of trucks. But at the end of the day, unless you proactively use that data, it doesn’t do anything for you.

Links and Resources:

Phil’s LinkedIn