EKA Solutions has formed a subsidiary to provide a risk rating and risk management platform for freight carrier, brokers, shipper, insurance brokers, wholesalers and carriers.
RMX Software provides a digital software-as-a-service platform to enable a “significant reduction in customer loss ratios and cost of insurance, and to simultaneously improve insurance carrier competitiveness and profitability,” company officials said in a press release.
As part of EKA’s cloud-based integrated freight management ecosystem for carriers, brokers, and shippers, the software is intended to transform how risk is managed by supply chain customers, and how risk is underwritten by insurance carriers based on customer usage and risk levels
“RMX platform will provide real time connectivity to truck telematics and video data, and seamless integration with driver, truck, and route risk related databases,” said Mark Walker, president and chief development officer for EKA Solutions and RMX Software. “More importantly, it will optimally blend risk, operational and financial data, and operational workflow processes to deliver new and timely risk data streams, analytics, and tools to various risk coverage and management stakeholders to transparently measure, manage and underwrite risk.”