KUALA LUMPUR: Katsana Holdings Bhd has targeted to become a leading drivers behaviours’ scoring service provider in Southeast Asia in the next five years, leveraging on its “DriveMark” mobile application.
Its chief executive officer Syed Ahmad Fuqaha Syed Agil said the company expects to reach up to 10 million registered drivers regionally for DriveMark.
The app will create a safer driving behaviour, while rewarding drivers with fuel and Touch N Go rebates as well as discount for motor insurance renewal, he said.
“Currently we have partners with insurance companies - Etiqa Insurance, Etiqa Takaful and Allianz Malaysia. We also have five more insurance companies expected to join us by end of this year,” Fuqaha told the New Straits Times in an interview recently.
“DriveMark is an application that evaluates driving behaviours including speed, acceleration, cornering, braking and monitor drivers’ fatigue level,” he added.
DriveMark is also capable of tracking and scoring driving behaviours, which are relevant in line with the risk-based insurance model by detecting risky driving patterns.
Katsana, a Bumiputera data company, was established in 2014.
It has three investors namely Axiata Group Bhd, Malaysia Venture Capital Management Bhd (MAVCAP) and Johor Corp via their investment entity called Axiata Digital Innovation Fund (ADIF).
Katsana also provides innovative products for personal users, fleet management and insurers – with services such as big data and predictive analysis, global positioning system (GPS) tracking services, and remote control of motor vehicles.
Fuqaha said DriveMark also allows drivers to prove to insurers that they are low-risk drivers, enabling them to potentially lower their insurance premiums by up to 15 per cent.
“We currently have about 70,000 registered drivers for DriveMark and 600 drivers in Indonesia. We have targeted to reach 140,000 and 100,000 registered drivers in Malaysia and Indonesia respectively by this year end,” he added.
Katsana had provided its technology in Kazakhstan for over 900,000 drivers to evaluate their driving behaviours.
Malaysia was previously ranked in top 18 globally for road fatalities per 100,000 citizens between 2016 and 2017.
Fuqaha said Katsana has two business segments comprising the hardware GPS tracker and drivers’ behaviour scoring application.
He said Katsana had been providing GPS tracker system mainly for the fleet management companies in Malaysia including bus operators, taxis, hauliers as well as transportation and logistics services providers.
The company is aiming for a revenue of RM8 million this year.
“We have about 36 workforce in Malaysia and aims to expand our presence in Indonesia, Thailand and Vietnam in the next few years to strengthen our position.
“We also work with established companies to build our software and application with Petronas, Plus and Touch N Go to reach wider customers base,” Fuqaha said.