30 Leading Companies of the Year 2021
“A mobility data and analytics company focused on making transportation smarter, safer, and more useful for everyone.”
According to a research, 2, 40,000 lives are lost in traffic during a workweek every single year which is about $3 trillion in wasted spending. This is happening when the world has advanced so much in technology and has access to billions of mobility data.
Arity began by collecting these humongous piles of sensor data from smartphones and vehicles to help companies evaluate the risk of a driver with the help of analytic tools. Through this Arity is hoping to sell these products and services to insurance companies and other telematics providers in the automobile space.
Arity is striving to make the world safer by providing software to companies along with insight into a person's driving behavior. Also, Arity’s algorithm is designed to help the insurer make better decisions and price a coverage plan for individual customers based on their driving.
Carving a safer path
Arity was founded by The Allstate Corporation in 2016 and was open to customers from 2017. Allstate supplied data to the company and within two years Arity had around 55 billion miles of driving data that is used to build models and on predictive analysis. Arity’s data scientists, engineers and project managers are thus taking ideas and crafting applicable products that can solve longstanding challenges in the transportation sector.
Arity is incepting in the insurance business and will enable insurers to turn driving data into actionable ideas for improved risk assessment and management. They are also into shared mobility services like ride-hailing apps and aims to provide these companies with improved risk assessment and deliver a smarter future.
Arity intends to employ its technology that will help companies improve their understanding of risk and be more close to the bleeding technology of usage-based telematics solutions. Also, this technology will provide significant cost-savings to Arity’s customers and also results in a more personalized experience for the end-user.
Digging into next-gen technology
Arity uses its Shared Mobility Solutions suite to help rideshare and other peer-to-peer companies optimize efficiency and enhance their business through access to driver analytics. The Shared Mobility Suite does this with the help of predictive data models that can analyze driver behavior and help these companies hire and retain safer and reliable drivers. Arity considers a number of factors like miles driven, fuel consumption car maintenance costs and daily travel habits.
Arity’s software makes use of the vehicle's on-board diagnostic port to keep track of the car's performance. Also, the technology will help predict the possibilities of when a vehicle might break down and this can be useful in myriad ways like driverless vehicles and connected cars. Arity has put itself at the center of innovation especially with the onset of IoT which will generate more and more data that'll help Arity build a more secure world and fewer accidents.
The Arity Platform
The Arity Platform processes raw driving data from the sensors into actionable insights that are predictive of risk and thus enable a better atmosphere for customers. The Arity platform begins by collecting data and Arity’s statistics denote that the platform capture about 1.9M trips per hour through on-board diagnostic –ll devices, mobile sources, and other sensor data and to date Arity has processed over 200 billion miles of driving data. Further, the platform initiates secure data processing, where data is cleaned, de-duplicated and stored in the cloud. This is when the Arity platform correlates this cleansed mobility data with insurance data and provides its clients with predictive insights that can help the end-user experience.
Driving Engine SDK
The Arity Driving Engine SDK uses smartphones as powerful sensors thus enabling rich customer experiences by leveraging user-level, real-time driving, and mobility data. The SDK takes sensor data from smartphones building a complete view of an individual’s trip and behaviors— all with seamless communication to the application layer and minimal battery usage. The Arity Driving Engine SDK comes with several benefits like enhanced driver safety, ability to create contextual targeting and notification and also better user experience.
Telematics-based Ad Targeting
Insurance marketing has always relied on demographic and behavioral data to target potential customers but when these data sets become insufficient on a higher level and can’t ascribe enough customer value and retention. Arity has introduced its telematic based platform called Arity DrivesightSM score to address the challenge and help companies attract the right prospects for the right price and thus improve the customer acquisition ROI.
Leading the way
Gary Hallgren is President at Arity with more than 20 years of high tech experience in fast-paced companies ranging from start-ups to Fortune 100. Gary is familiar with creating next-generation telematics solutions and Software as a Service (SaaS) business models, managing mergers and acquisitions of public and venture-backed companies and leveraging data and analytics to create breakthrough business opportunities. Before joining Allstate (Arity’s Parent organization) in 2015, Gary served as senior vice president of Corporate Strategy at Telogis, where he negotiated four strategic acquisitions related to fleet management, insurance telematics, routing and logistics, and commercial navigation. Previously, he was CEO of Remote Dynamics Inc., where he led a turnaround and positioned the company as a leading telematics supplier to the construction industry. Gary also served as VP of operations at Volvo Technology of America which provides telematics solutions.