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Media release

VERO AND CORTEX ANNOUCE PART­NER­SHIP

6 July, 2016

Leading New Zealand insurer Vero and global telematics experts Coretex have partnered to offer their customers exclusive benefits on telematics packages and insurance.

Customers who insure with Vero and have Coretex installed in their commercial vehicles, will get an exclusive free upgrade upon renewal or inception of their Coretex telematics package and are able to access discounts on their insurance premiums or excesses.

Vero heavy fleet customers with Coretex on board will have their excesses capped and their single vehicle accident (SVA) excess halved. Commercial customers with lighter vehicles can talk to Vero about getting a discount on their premiums.

“It’s all about prevention, and with Coretex on board our commercial motor customers can be safer and more efficient on the road,” said Adam Heath, Executive General Manager Portfolio & Products at Suncorp New Zealand, which includes the Vero brand.

“That should lead to fewer accidents and fewer claims, which means reduced premiums over time, but through this partnership we’re offering customers those cost savings upfront on their premiums or excesses.

“This partnership highlights the increased value we are creating for our customers and the benefit of working with third parties like Coretex, a global leader in the field of telematics,” said Mr Heath.

Telematics is like the black box of an aircraft, an on-board system that captures data from your fleet and helps you make decisions that save you money – by reducing fuel consumption and lowering maintenance costs.

Coretex products include a compliance function that includes road user charging and driver logs, which help commercial vehicle operators lower administration costs for road user charges. They also offer fleet efficiency functions that help fleet optimisation, asset utilisation, fuel usage, waiting time, product wastage and maintenance.

“With emerging technology trends like Big Data and the Internet of Things, customers are being swamped with data and are seeking ways to use it to benefit their business and create efficiencies,” said Selwyn Pellett, CEO of Coretex.

“Our product can contextualise large volumes of data and deliver it to our customers in real time, enabling them to take real time action and giving them better control of their assets and people.

“We are truly excited about about our partnership with Vero as we will not only help reduce costs for both Coretex and Vero customers, but we will also be able to work together to bring solutions to customers that vastly improve their efficiency, incident management and safety standards," said Mr Pellett.

For more information about Vero's commercial motor insurance, click here.

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