Novatel Wireless and Chipin BV to Deliver Usage Based Insurance Solutions to European Markets
- Chipin will provide UBI solutions to the
Belgium, Netherlandsand Luxemburgregions. This deployment, under the label "fairzekering" for consumers, will showcase a successful technology infrastructure that will serve as a model for future UBI deployments.
- These UBI programs have the potential to reward good drivers with monthly opportunities to receive up to 25 percent of their cash back and promote driver safety by using ideal behavior to reduce vehicular accidents.
- The MT 3060 mobile tracking device is a plug-and-play, self-installed device that can be deployed in minutes by any driver, providing a wealth of diagnostic, maintenance and driving performance information to power commercial and consumer telematics services. The device collects and controls critical data from the vehicle's on-board diagnostics (OBD-II) port and securely delivers that information to the cloud, supporting all five engine OBD-II protocols. It boasts a highly sensitive 3-axis accelerometer for measuring driver behavior, parallel GPS/GNSS satellite location capability and sophisticated technology for impact detection. This capability enables the MT 3060 to detect driver behaviors, such as vehicle speed, location, hard braking, cornering and impact data, necessary for UBI policy rating and other consumer telematics services. The MT 3060 further optimizes performance with an innovative antenna design and disconnect alert feature using an on-board backup battery.
- Novatel Wireless' robust M2M software offerings quickly build connectivity from Internet Protocol-enabled remote assets to existing enterprise applications, accelerating customer application integration. The N4A Device Manager is a robust platform for the management, configuration, self-care and support of
Novatel WirelessM2M devices.
Peter Leparulo, CEO, Novatel Wireless, said: "Novatel Wireless' M2M OBD-II products are designed to meet the needs of our customers in the growing area of UBI. By leveraging the advanced reporting capabilities of the MT 3060 and comprehensive device management features of the N4A Device Manager, Chipin is prepared to support full featured UBI programs in the Benelux region." Hans Gerritsen, CEO, Chipin, said: "We want to show that customers will benefit from UBI with more safety, less accidents and fair dynamic pricing. In cooperation with Novatel Wirelessand its advanced devices and technologies, we will deliver and expand this proposition to the Benelux market. We are looking forward to creating that future with Novatel Wirelessfor our clients."
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Novatel Wireless' products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the
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