SAN DIEGO & JOHANNESBURG--(BUSINESS WIRE)--
Inseego
Corp. (Nasdaq: INSG) - a leading global provider of
software-as-a-service (SaaS) and solutions for the Internet of Things
(IoT) - is pleased to announce a new partnership with one of Malawi's
leading short-term insurance companies, United
General Insurance Company Limited (UGI). Providing the proprietary
"Pay How You Drive" usage-based insurance model through its Ctrack
telematics solution—which utilizes tracking devices to gather and
monitor data related to driver behavior including accidents, fuel
consumption and mileage—Inseego will enable UGI to offer its customers a
clear path to increased driver safety and lower insurance premiums.
"With high-performance analytics and data modeling techniques, Inseego's
Ctrack offers UGI the most advanced, accurate assessment and real-time
insight into driving behavior," says JW Oberholzer, Ctrack's
International Channel Manager for Africa. "Unlike traditional models,
Ctrack provides for an ongoing, personalized dialogue between insurers
and policy holders. With communication central to influencing change, we
are confident that Ctrack will transform UGI's relationship with its
customers from one of necessity to one of mutual benefit."
Negligent driver behavior is one of the main causes of road-related
accidents worldwide. In Malawi alone, it accounts for around 90 percent
of all accidents, with speeding, fatigue and driver distraction listed
as the primary causes. Insurance telematics, in particular, is
increasingly being viewed as a disruptive force that will have a major
impact on the auto insurance business globally over the next decade.
Backed by 30 years of experience, Inseego's Ctrack solution has kept
mobile assets of consumers, small- and mid-sized businesses and large
enterprises always visible - resulting in vehicle security, safer
driving and more efficient fleet operations. By embracing the Ctrack
insurance model, UGI will not only play a integral part in improving
road safety in Malawi but also strengthen its customer relationships by
rewarding attentive and responsible drivers with lower insurance
premiums. With the first 1,000 units already delivered and an aggressive
rollout strategy set in motion, UGI indicates the expansion of Ctrack
across its entire customer base in the near future.
"Invaluable partnerships like these will provide significant added
advantages to both insurance providers as well as their customers who
have the Ctrack telematics device installed in their vehicles," adds
Oberholzer. "The data gathered can be used to not only reduce claims
loss ratios as well as minimize fraudulent claim pay-outs but also
influence positive behavior behind the wheel, which ultimately pays off
in reducing accidents and loss of life worldwide."
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking
statements. These forward-looking statements are made on the basis of
the current beliefs, expectations and assumptions of the management of
Inseego Corp. and are subject to significant risks and uncertainty.
Investors are cautioned not to place undue reliance on any such
forward-looking statements. All such forward-looking statements speak
only as of the date they are made, and Inseego Corp. undertakes no
obligation to update or revise these statements, whether as a result of
new information, future events or otherwise, except as may be required
by law. These forward-looking statements also involve many risks and
uncertainties that may cause actual results to differ materially from
what may be expressed or implied in these forward-looking statements.
For a further discussion of risks and uncertainties that could cause
actual results to differ from those expressed in these forward-looking
statements, as well as risks relating to the business of Inseego Corp.
in general, see the risk disclosures in our Annual Report on Form 10-K
for the year ended December 31, 2015, and in other subsequent filings
made with the SEC by Ctrack and Inseego Corp. (available at www.sec.gov).
ABOUT INSEEGO CORP.: Inseego
Corp. (Nasdaq: INSG) is a leading global provider of
software-as-a-service (SaaS) and solutions for the Internet of Things
(IoT). The company sells its telematics solutions under the Ctrack brand,
including its fleet management, asset tracking and monitoring, stolen
vehicle recovery, and usage-based insurance platforms. Inseego
Corp. also sells business connectivity solutions and device management
services through Novatel Wireless, Inc. and Feeney
Wireless (FW). Inseego Corp. has over 30 years of experience
providing customers with secure and insightful solutions and analytics,
with approximately 590,000 global subscribers, including 182,000 fleet
management subscribers. The company is headquartered in San Diego,
California. www.inseego.com; Twitter @inseego.
ABOUT UNITED GENERAL INSURANCE: United
General Insurance Company is one of Malawi's leading short term/general
insurance companies and has been operating in Malawi for over 40 years.
UGI shareholders include NicozDiamond Insurance (NDI), National Bank of
Malawi (NBM) and ZIMRE Holdings Limited (ZHL). UGI's efficient and
effective underwriting and claims processes are characterized by its
focus on the needs of its clients to define the products it offers.
UGI's head office is located in Blantyre and has branch offices in
Blantyre, Lilongwe and Mzuzu.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005238/en/
Ctrack by Inseego
Leané du Plessis
Public Relations and
Content Specialist
Tel: 012 450 2222
Cell: 082 494
8594
leanedp@ctrack.co.za
www.ctrack.com/za
Source: Inseego Corp.
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