Sprint and Walsh Wireless Launch M2M Device to Drive Usage-Based Insurance for Vehicles
Increasingly automobile insurance companies are adapting the way they charge customers, basing rates more on individual vehicle use and driving behavior. This is known as Usage-based Insurance (UBI). Sprint (NYSE: S) and Walsh Wireless today announced the certification and availability of a solution developed to meet this unique and growing market – the Walsh Wireless Data Logger, powered exclusively by Sprint 3G Mobile Broadband.
“We are excited to add the Walsh DL400 and DL450 Data Logger to our ever-expanding portfolio of exclusive products and services. And furthermore, bring a value added wireless solution to the UBI Auto Insurance and Fleet Management industries.”
The UBI model helps insurance companies be more innovative and competitive in their approach by improving their risk assessment process, reducing customer churn and ultimately reducing the claims received. Drivers could see a reduction in their premiums by being rewarded for low mileage and/or safe driving habits. The Walsh Data Logger provides the ability to wirelessly monitor in real-time the performance of a vehicle, its location and the driver’s driving pattern through an easy-to-use, self-installed device. It can also benefit government entities and businesses that need to better manage large fleets of vehicles.
“This is one of many excellent examples of how we work with various industries to radically change business models to drive more value for developers, customers and end-users,” said Wayne Ward, vice president of Emerging Solutions, Sprint. “This is a great addition to our industry-leading portfolio of M2M embedded devices and we’re pleased to work with our long-time partner, Walsh Wireless, to bring another industry-first solution to the marketplace that leverages our dependable 3G mobile broadband network.”
Chick Walsh, chief strategy officer, Walsh Wireless Solutions, added, “We are excited to add the Walsh DL400 and DL450 Data Logger to our ever-expanding portfolio of exclusive products and services. And furthermore, bring a value added wireless solution to the UBI Auto Insurance and Fleet Management industries.”
In October 2009, Sprint announced the formation of its Emerging Solutions Business group, which focuses exclusively on the rapid delivery of end-to-end M2M and mobile computing solutions to businesses and consumers. Sprint’s relationship with Walsh Wireless builds on more than 10 years of experience in working with an open network of ecosystem partners to provision both Sprint-branded and non-Sprint-branded devices to operate on its networks, as well as extensive expertise in operating multiple platforms and assets. For more information, visit www.poweryourideas.com/m2m.