LONDON and IRVINE, Calif., Jan.
19, 2021 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a
global technology solutions pioneer transforming the mobile
connected economy, today announced a new usage-based insurance
(UBI) solution through its subsidiary, Tracker that is being
deployed by SmartDriverClub Insurance, part of Markerstudy Retail.
The white-labeled smartphone app solution allows insurers to
deliver a branded, value-added experience for their policy holders
that overcomes the 'price' versus 'service and data quality'
dilemma.
The solution is a competitively priced, self-installed Bluetooth
Low Energy (BLE) tag and smartphone application that delivers
driver identification, driver behavior data, and crash detection
alerts in real-time. The connected app provides accurate GPS
tracking and utilizes the driver's smartphone for cellular data
transfer.
Recognising that deploying a successful tag and smartphone app
solution requires robust risk management, the UBI solution
incorporates strict processes to ensure collection of accurate and
consistent data. It also addresses any privacy concerns by
ensuring that smartphone trip recording only occurs when driver
identification is confirmed, thereby ensuring only trips from
properly insured vehicles and valid policy holders are being
recorded.
"We have long been an advocate of telematics as a means of
effectively monitoring and managing our book of risk, as it enables
us to reward good drivers with lower renewal premiums," said
Ross Halifax of SmartDriverClub
Insurance. "The BLE tag and app solution means we can now extend
the benefits of telematics to an even wider base of
customers."
"Crucially, the whole on-boarding journey for the policy holder
is seamless, with installation of both the tag and app
hassle-free. This convenience is key to its successful
adoption. At the same time, its simplicity does not undermine
the accuracy and detail of driving data captured to support our
risk decisions. The ability to offer the convenience of in-app
reporting, in order to encourage our policyholders to improve their
driving skills and help them reduce the likelihood of having a
collision and potential injury, is also an extremely important
benefit," concluded Halifax.
"We have strengthened our product portfolio with the integration
of driver behavior, risk scoring and data analytics to
extend our end-to-end insurance telematics offerings. Now, at a
time when the market has never had a greater need for agile
solutions to enable them to adapt to recent events, the combination
of our telematics capabilities and insurance knowledge, has
produced an even greater range of integrated, intelligent car
services for the EMEA marketplace, including our BLE smart-tag and
smartphone app solution," said Justin
Schmid, general manager of LoJack international
operations.
"Our market-leading driver score algorithms, risk management
reporting and engaging consumer applications have a proven track
record of reducing insurer and broker loss ratios in the U.K.
Importantly, we have the means to deliver these solutions in a
cost-effective package, backed by exemplary customer support for
our insurer clients. With our streamlined onboarding process,
we can set up new insurers with a full-service offering, including
data analytics, policy management and customer activation support
in no time," Schmid added.
About Tracker
Tracker, a wholly owned subsidiary of
CalAmp, has been leading the way in the field of vehicle tracking
and telematics since 1993. With over a million market-leading
security and award-winning fleet management systems fitted to
vehicles including passenger cars, motorcycles, HGVs, LCVs and
plant and construction equipment, Tracker is still leading the way.
Tracker, together with the police has to date recovered over £557
million worth of stolen vehicles and continues to recover on
average £1 million worth of stolen vehicles each month. With over a
million systems installed to date, its award-winning products
ensure its customers have complete peace of mind. For more
information, visit www.tracker.co.uk or follow us on
http://twitter.com/tracker_UK
About CalAmp
CalAmp (Nasdaq: CAMP) is a global
technology solutions pioneer transforming the mobile connected
economy. We help reinvent business and improve lives around the
globe with technology solutions that streamline complex mobile IoT
deployments and bring intelligence to the edge. Our software and
subscription-based services, scalable cloud platform
and intelligent devices collect and assess business-critical
data from mobile assets and their contents. We call
this The New How, facilitating efficient decision
making, optimizing mobile asset utilization and improving road
safety. Headquartered in Irvine,
California, CalAmp has been publicly traded since 1983 and
has 20 million products installed and over 1.3 million software and
services subscribers worldwide. LoJack®,
Tracker™ and Here Comes The Bus® are CalAmp
brands. For more information, visit calamp.com, or LinkedIn,
Facebook, Twitter, YouTube or CalAmp
Blog.
CalAmp, LoJack, Tracker, Here Comes The Bus, iOn Vision and
associated logos are among the trademarks of CalAmp and/or its
affiliates in the United States,
certain other countries and/or the EU. Any other trademarks or
trade names mentioned are the property of their respective
owners.
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SOURCE CalAmp