Today we want to talk about Encontrack, the leading Telematics Service Provider in the Mexican market. It counts 8 of the top 10 insurance companies as Insurance Telematics customers and offers Stolen Vehicle Recovery and Fleet services. It currently has 160,000 devices installed on cars and commercial vehicles.
But who is Encontrack? Let's hear what Felipe de Jesús Rivera Cazares, CTO in Encontrack - has to tell us!
During networking activities I was introduced to Gianfranco Iannello (and GreenVulcano Technologies) as one of the leaders in telematics software services in Europe and US. In our first business approach, we requested GreenVulcano to develop and integrate some services into our next generation platform, called Encontrol. We soon realized the extensive experience, high technical capability and professionalism of GreenVulcano´s team so after an expedite win-to-win negotiation, GreenVulcano and Encontrack signed a long-term agreement for the development, support, enhancement and growth of Encontrol.
This joint effort between GreenVulcano and Encontrack will allow them to penetrate new markets in less time than the one required by either company if they decided to do it separately. Encontrack will be able to shorten the Time-to-Market of its new products/services counting on GreenVulcano as its technological partner. In general, this estrategic agreement will bring both companies more revenues as well as market value.
In addition to the European and American markets which GreenVulcano already serves, it will be able to expand its value proposition to Mexican and LATAM markets. From Encontrack´s perspective, this agreement will allow it not only to catch up but overtake its competitors in those market segments it is not currently leading, such as Telematics and Fleet Management and take the lead on emerging markets such as UBI and InsurTech becoming the largest service provider in this region.
Big worldwide players in Telematics, UBI and Insurtech markets in general, have not been able to successfully penetrate Mexico and LATAM countries for economical, political, and cultural reasons among others. Combining GreenVulcano´s technological developments and know-how with Encontrack´s full understanding of these markets, commercial strategies and networking, represent the perfect mix to provide not only the products and services these markets are now demanding but the ones that the Insurance Companies will require in the short and mid-term, positioning both, Encontrack and GreenVulcano as top-providers in this still emerging market.
