TRAX GhG Management Software
EcoClaim TRAX is an advanced software solution designed specifically for the insurance industry to measure, manage, and reduce greenhouse gas (GHG) emissions associated with claims. TRAX software provides insurers and their supply chain partners with the ability to track both actual and avoided emissions on a per-claim basis.
Key Features of TRAX:
TRAX is the world’s only software to quantify carbon avoidance on insurance claims.
TRAX is the world’s only software to quantify carbon avoidance on insurance claims.
TRAX provides detailed dashboards that show the results of avoidance efforts. These dashboards also highlight contractor performance and help drive continuous improvement, enabling contractors to improve their carbon reduction and avoidance results over time.
TRAX creates a unified platform for all supply chain stakeholders—including MGAs, brokers, adjusters, specialized experts, and contractors—to collaborate efficiently on a single claim and reflect the aggregate scope 3 emissions footprint.
TRAX facilitates the shift from benchmarked to actual emissions data for claims. This transformation enables more accurate planning and decision-making based on real data rather than inaccurate benchmarks.
The low-carbon approach often equates to cost savings. By enhancing operational efficiency, minimizing waste, and avoiding expensive replacements, TRAX helps reduce claims costs up to 30%, making it a valuable cost reduction driver for claims.
TRAX features a carbon calculator tailored specifically for the insurance claims supply chain. Unlike broad, generic tools, our calculator zeroes in on the most materially relevant data points for Scope 1, 2, and 3 emissions specific to the companies in this supply chain. By focusing on the key factors that truly impact emissions in the insurance industry and are directly relevant to claims, TRAX simplifies data gathering and delivers accurate and consistent emissions reporting.
Designed with user experience in mind, TRAX seamlessly integrates with existing industry tools, eliminating the need for contractors to adopt new applications or re-enter claims data. TRAX is highly praised in end user testing for its ability to eliminate redundant data entry and save time.
TRAX employs PCAF and TCFD-compliant methodologies to apply attribution factors to each vendor. This means that while each firm calculates its materially relevant footprint, only the quantity related to the insurer’s attribution is reported as part of the Scope 3 emission calculation for each insurance carrier.
Did You Know
TRAX is an essential tool for insurers looking to enhance their sustainability efforts throughout their claims supply chain while reducing claims costs, tracking scope 3 emissions on claims and achieving quantifiable GhG reductions.