Tuesday, March 9, 2010

Sprint Delivers M2M to Enable Usage-Based Insurance for Vehicles

Sprint is delivering an M2M service that monitors actual miles driven by a particular vehicle, and enabling insurance companies to set their coverage fee based on this data. This is known as Usage-based Insurance (UBI).

Specifically, Sprint and Walsh Wireless released a certified solution developed to meet this unique and growing market - the Walsh Wireless Data Logger, powered exclusively by Sprint 3G Mobile Broadband.

The companies said 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. It can also benefit government entities and businesses that need to better manage large fleets of vehicles.

  • 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.