Novatel Wireless and Chipin BV to Deliver Usage Based Insurance Solutions to European Markets
April 14 2014 - 8:00AM
Business Wire
Novatel Wireless, Inc. (Nasdaq:NVTL), a leading provider of
intelligent wireless solutions, and Chipin B.V., a provider of
innovative solutions for insurance and fleet management based on
dynamic pricing, today announced that Novatel Wireless will supply
its MT 3060 and N4A™ Device Manager to support Usage Based
Insurance (UBI) programs in the Benelux Region.
KEY HIGHLIGHTS:
- Chipin will provide UBI solutions to
the Belgium, Netherlands and Luxemburg regions. 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 Wireless M2M devices.
SUPPORTING QUOTES:
- 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 Wireless and 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 Wireless for our clients.”
About Novatel Wireless
Novatel Wireless, Inc. is a leader in the design and development
of intelligent wireless solutions based on 2G, 3G and 4G
technologies. The company delivers specialized wireless solutions
to carriers, distributors, retailers, OEMs and vertical markets
worldwide. Product lines include MiFi® Intelligent Mobile Hotspots,
Ovation™ USB modems, Expedite® embedded modules, Mobile Tracking
Solutions, Asset Tracking Solutions, and Enabler smart M2M modules.
These innovative products provide anywhere, anytime communications
solutions for consumers and enterprises. Headquartered in San
Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For
more information please visit www.nvtl.com. (NVTLG)
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
United States Securities and Exchange Commission (available at
www.sec.gov) and other regulatory agencies.
(C) 2014 Novatel Wireless, Inc. All rights reserved. The Novatel
Wireless name and logo, N4A, are trademarks of Novatel Wireless,
Inc. Other Company, product or service names mentioned herein are
the trademarks of their respective owners.
Nadel PhelanCara Sloman, +1 831-440-2411cara@nadelphelan.com
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