Novatel Wireless Delivers Solution for UBER Drivers in South Africa
June 01 2016 - 8:35AM
Novatel Wireless, Inc. (Nasdaq:MIFI), a leading global provider of
solutions for the Internet of Things (IoT), including
software-as-a-service (SaaS), and Vulindlela Underwriting Managers
(VUM), the preferred auto insurance provider for Uber South Africa,
have joined forces to deliver a customized usage-based insurance
(UBI) solution for Uber driver-partners in South Africa.
Deployments commenced earlier this month.
“We are very excited about the potential of this insurance model
with the Ctrack solution. Our partnership with Novatel Wireless has
meant that we are able to take into consideration important risk
factors that were previously unknown. Our hope is that this would
lead to safer roads for all of South Africa’s commuters,” said Dave
Gould, Managing Director of VUM.
Uber, the innovative technology platform most commonly known for
their ride-share service in 400 cities worldwide, has a large
presence in South Africa with nearly 25,000 driver-partners to
date. VUM, Uber’s preferred auto-insurance provider in South
Africa, collaborated with Novatel Wireless to deliver a customized
usage-based insurance program. The program encourages Uber drivers
to drive more safely by rewarding them with lower insurance
premiums for those who improve their driving behavior. Their
driving style is measured by the Ctrack telematics solution that
reports on performance factors such as hard braking, harsh
cornering, and excessive speeding. The technology also accurately
measures distance traveled. VUM charges a set amount per kilometer,
which they will deduct from the Uber driver-partners’ fares on a
weekly basis. This type of usage-based model in the automobile
insurance and automobile leasing sectors throughout Europe and
Africa is coined “pay-per-kilometer,” (pay-per-kay) in which rates
are measured based on the number of kilometers traveled.
“This model combined with driver behavior monitoring has huge
potential for the South African market where road fatalities are at
unacceptable levels, as good driving styles can only lead to
improved safety on the road,” said Pierre Bruwer, Managing
Director of Ctrack SA. “Ctrack’s driver behavior monitoring is
already being used by companies operating small and large fleets.
As adoption of such technology increases, so does the awareness and
contribution to improving driving habits in the country.”
Telematics deployments in the car-share sector create new
use-cases and user-friendly business models for managing and
connecting car-share fleets. Earlier this year, Novatel Wireless
announced an innovative pilot program with a leading automobile
manufacturer and car-share operator in Europe.
About Vulindlela Underwriting Managers
(VUM)
VUM is an underwriting management agency for Santam Ltd. VUM
have specialized in insuring all types of taxis for the last 10
years. VUM have constantly sought to embrace the use of information
system and technologies to create efficiencies for our business and
better service for our clients.
About Novatel Wireless, Inc.
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leading global
provider of solutions for the Internet of Things (IoT), including
software-as-a-service (SaaS) solutions for the fleet telematics
market. Our innovative products and solutions provide
anywhere, anytime communications and analytics for consumers and
businesses of all sizes, with approximately 164,000 subscribed
fleet vehicles for Ctrack among the Company’s 534,000 global
subscribers. Novatel Wireless, Inc. is headquartered
in San Diego, California. www.novatelwireless.com. @MIFI
(Twitter);
https://www.linkedin.com/company/novatel-wireless (LinkedIn)
Cautionary Note Regarding Forward-Looking
StatementsCertain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to a variety of matters,
including, without limitation, statements related to the ability
of Novatel Wireless to expand its addressable markets and
drive growth in service revenue and broaden its customer base as a
result of the acquisition of DigiCore, and other statements that
are not purely statements of historical fact. These forward-looking
statements are made on the basis of the current beliefs,
expectations and assumptions of the management of Novatel
Wireless 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 Novatel
Wireless undertakes no obligation to update or revise these
statements, whether as a result of new information, future events
or otherwise. 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 Novatel Wireless in general,
see the risk disclosures in the Annual Report on Form 10-K
of Novatel Wireless for the year ended December 31,
2015, and in other filings made with the SEC by Novatel
Wireless (available at www.sec.gov).
Editorial Contacts:
For Novatel Wireless
Anette Gaven
agaven@nvtl.com
619.993.3058
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