Voyent is a cloud-based service that generates customized web content and notifications based on end-user profiles and situational data such as location, weather and input from Internet connected devices. Voyent works seamlessly across all mobile and desktop platforms and can be readily integrated with existing webbased applications. Using Voyent, developers can enrich applications with augmented geofencing capabilities.
Conventional geofencing applications operate by establishing a radius around a fixed geographic point and triggering an action such as a notification whenever a user is detected within the established region of interest. Voyent does that and much more.
With Voyent, the geofenced region need not be fixed in terms of location or shape. Region boundaries and user proximity can be updated dynamically over time. In addition, Voyent can augment locational data with supplemental forms of historical and situational context related to the region such as local temperature or how many times in a prior period the user had interacted with the geotagged region. This enables the authoring of more customized and refined communications that are ultimately of greater value to the user.
In this use case an insurance company is exploring ways to improve the quality of communications being sent to clients regarding hazardous weather conditions. The company’s objective is to improve their client’s response to the Company’s “call to action” so as to reduce potential property damage and resulting claims. The current strategy involves sending generic email-based advisory warnings of hazardous weather, such as “hail storms in the vicinity”. The lack of specificity related to the recipient however often results in the client being unsure of what action to take in order to avoid the storm, or worse, to ignore the advisory altogether.
With Voyent, a much more informative communication can be constructed and delivered. In this scenario Voyent augments the relative locations of the storm and end user with information regarding storm speed and direction to determine the user’s risk exposure and time of intercept with the storm. It can even provide directions on the quickest route to avoid the storms path. The information provided is now more pertinent and relevant, resulting in a greater likelihood that the communication’s call to action will be heeded.
The potential impact on savings and efficiencies to an insurance company can be considerable:
|Average number of automotive hail damage claims per year||100,000|
|Average Cost per Claim||$3,000|
|Annual hail related auto claim ($)||$300,000,000|
|Target % of users that heed enhanced communications||5%|
|Potential cost savings a year due to reduced hail claims||$15,000,000|
By providing more refined contextual information to their clients, insurance companies can save both themselves and their clients substantial time, money and frustration, furthering client retention and enhancing customer satisfaction.
Voyent’s augmented geofencing capabilities open the doors to a new class of location-based applications that have applicability across a wide variety of markets. These include:
Consumer Retail: Customer loyalty programs and mobile couponing represent the most common geofencing styled applications on the market today. Customers receive texted coupons when they are within a given radius of a store. With Voyent, developers have the ability to supplement location-based data with inputs such as local weather, time of day and customer shopping habits to construct more relevant and valuable loyalty inducements for the customer.
Government and Crisis Management: During a crisis, timeliness of communication and being able to deliver the right information and instruction to the right recipient is critical. Events are almost never static. Storms move, floods rise, chemical spills spread. Voyent accommodates these circumstances and can provide real time notification updates to individuals as their specific exposure varies as a function of time and proximity to dynamic events.