Next Seguros Puts Spanish Consumers in Control of Auto Insurance Costs With Novatel Wireless MiFi Drive
May 22 2015 - 8:00AM
MiFi Drive usage based insurance solution powers Next Seguros
rate-reduction insurance programs offered direct to consumers in
Spain
Plug-and-play device empowers consumers to lower their auto
insurance rates based on actual kilometers driven
Novatel Wireless, Inc., (Nasdaq:MIFI), a leading provider of
wireless solutions for the Internet of Things (IoT), and Next
Seguros, a subsidiary of GRUPO NEXT, an automobile insurance
solution offering reduced premium usage based insurance programs,
today announce that the Novatel Wireless MiFi Drive MT3060 OBD II
device has been selected as part of the company's usage based
insurance offering. Frost and Sullivan Research ranks Spain one of
the largest markets in Europe for telematics based insurance
programs with high customer willingness to embrace the
offering.
Next Seguros is dedicated to creating products that can save its
customers time and money. It is the first company in Spain to offer
pay-as-you-drive (PAYD) auto insurance policies, which are based on
how many kilometers an insured drives. The driver predetermines how
many kilometers they expect to drive over a 12 month period. Next
Seguros then aligns insurance costs with how much a client plans to
drive. The less the insured drives, the lower the premium. The
principle behind PAYD is that those who drive less, are less likely
to get into accidents. The risk is then lowered, and the insurance
company can charge a lower premium as a result.
Next Seguros has developed a M2M technology platform with a
variety of offerings including virtual maintenance, connection
with different dealerships, mobility services such as alerts,
geofencing and towing, privileged access to parking spaces and
other connected services.
The MiFi Drive MT3060 model, is a compact device that the
customer easily plugs into the vehicle's OBD II port (normally near
the base of steering wheel) which collects and sends driver
behavior data via the Next Seguros platform.
"We needed a reliable turnkey solution with a proven track
record and high reliability ratings and the MiFi Drive by Novatel
Wireless fit those requirements perfectly," said Javier Goikoetxea,
CEO of GRUPO NEXT, the holding company of Next Seguros.
"Implementation was easy and impressive, which enabled us to beat
our expected time to market. It's a win-win situation for our
customers and insurance providers."
"Next Seguros has a great reputation in Spain, known and
respected for putting the consumer's best interests first," said
John Carney, Executive Vice President of Sales and Marketing for
Novatel Wireless. "We're delighted to partner closely with Next
Seguros to supply a critical offering that gives them a unique
competitive edge."
Novatel Wireless has deployed the MiFi Drive MT 3060 solution
throughout Europe, the Middle East and Africa for usage based
insurance and fleet management applications. The device and
associated partner solutions have been awarded most innovative
solution from powerhouses GeneraliAM and Accenture, amongst
others.
About Novatel Wireless
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leader in the design
and development of M2M wireless solutions based 3G and 4G
technologies. The Company delivers Internet of Things (IoT) and
Cloud SAAS services to carriers, distributors, retailers, OEMs and
vertical markets worldwide. Product lines include MiFi® Intelligent
Mobile Hotspots, USB modems, Expedite® and Enabler embedded
modules, Mobile Tracking Solutions, and Asset Tracking Solutions.
These innovative products provide anywhere, anytime communications
solutions for consumers and enterprises. Novatel Wireless is
headquartered in San Diego, California. http://www.nvtl.com. @MiFi
(Twitter)
MiFi is a registered trademark of Novatel Wireless, Inc. –
the creators and patent holders of MiFi technology.
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.
CONTACT: Editorial Contacts:
For Novatel Wireless
Anette Gaven
agaven@nvtl.com
619.993.3058
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