The automotive market in Latin America is fertile ground on which to cultivate good ideas: commercial logistics represents 11% of gross domestic product in the region, there is a lot of local technical talent thanks to universities, and it is an open market with little competition.
These are the reasons why Parker Treacy decided to opt for vehicle logistics in Brazil, but from a modern and innovative point of view. So he founded Cobli. “This sector is still an offline world that is trying to keep up with the online world, so we have created a product that accelerates that digitization”, explains the CEO.
His proposal is, therefore, a vehicle tracking system that combines the use of individual locations with software that collects data on the whole fleet. “The Cobli system is based on the internet of things [IoT] and works through sensors that track the vehicles’ movement, location and interactions with the environment and clients,” details Treacy.
With the information it gathers, the IoT system makes use of data analytics and converts this information into something useful for the fleet manager – it minimizes costs, improves delivery times and streamlines processes. In a third stage, it uses predictive analytics to improve planning and to make better decisions in the future. Lastly, “the automation stage, with technologies such as machine learning, makes it easier for the Cobli system to learn and improve even more with the data collected,” says Treacy.
It is precisely the union of these technologies that makes Cobli unique: “We are the first vehicle tracking platform that combines IoT with data science“.
Their solutions monitor any vehicle transporting goods or people at all levels: driver, route, vehicle and user, which also allows them to improve communication. In Treacy’s words, the speed and ease with which a customer sees the tracking of a package or that an installer is on the way to their house should be “the same as checking a bank statement or writing to a friend on Facebook“.
Although their local market is Brazil, they have customers in the United States, Argentina, Portugal, Chile and Turkey. “In 2019 we want to increase our international expansion, double the size of our team and triple our customer base,” he says.
Cobli represents a gold mine for insurers, because their analytics “predict fraud, theft and accidents with a high success rate“. For example, they are able to forecast “86% of the theft of goods from British American Tobacco”, a company they work with. In this sense, their experience as a startup adopted by insur_space from MAPFRE is proving to be very enriching.
“MAPFRE has a lot of knowledge, data and expertise. It is incredible, and they have helped us to get the project off the ground“, indicates Treacy. Now, their goal is to create value for the insurer “by helping them to have a more connected fleet of commercial vehicles that is based on data“.