HIMEX and Novatel Wireless Join Forces to Deliver Advanced Usage Based Insurance Solutions
February 27, 2014
SAN DIEGO--(BUSINESS WIRE)-- Novatel Wireless, Inc. (Nasdaq: NVTL), a leading provider of intelligent wireless solutions, and HIMEX, a leading provider of Usage Based Insurance (UBI) and smart fleet management platforms, announced today that they are working together to jointly provide innovative solutions to the UBI market. HIMEX is actively integrating the Novatel Wireless family of MT 3060 telematics devices into the HIMEX 3D World Platform to provide virtual renderings of telematics information.
- Novatel Wireless' MT 3060 family of platforms is an integrated, system-level technology solution for commercial and after-market telematics markets. The plug-and-play, self-installed device easily inserts into a vehicle's on-board diagnostics (OBD-II) port, supporting all five engine OBD-II protocols. The device collects and controls critical vehicle data and securely delivers that information to the cloud. It boasts a highly sensitive 3-axis accelerometer for measuring driver behavior and parallel GPS/GNSS satellite location capability, and offers sophisticated technology for impact detection. This ability 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. In the event of an accident, the MT 3060 measures the forces applied to the vehicle to recreate the event in a virtual world.
- The HIMEX UBI 3D™ platform offers the industry's fastest and most complete means for implementing usage based insurance. The HIMEX Platform covers the entire UBI value chain of devices, including: product platform, systems integration, logistics, mobile applications, data management and analytics. Additionally, the platform supports the full range of insurance company transactions from quoting and sales through first notice of loss and claims settlement. HIMEX has been selected by some of the largest insurance companies in the United States for deployment of the HIMEX UBI platform.
Hassan Sadiq, chairman and CEO, HIMEX, said, "As a company founded on innovation and excellence, HIMEX is looking forward to partnering with Novatel Wireless because of the innovation of its MT 3060 family of telematics products and its expertise in M2M telematics. UBI applications require reliable access to comprehensive driver behavior data, and Novatel Wireless has the ability to meet our customer's expectations for superior quality and performance."
Peter Leparulo, CEO, Novatel Wireless, said, "Launching a UBI product is a significant commitment for insurers. HIMEX provides a complete, end-to-end UBI solution to insurance companies with a platform that creates a high level of engagement by end users. We're very pleased to be collaborating with HIMEX in this growing market."
HIMEX offers the shortest, fastest and most complete route to the immediate benefits of usage-based insurance and smart fleet management. Leveraging its unique platform, HIMEX uses a game-based virtual world to enable carriers to create fun, engaging customer experiences that change driving behavior, attract new customers and increase retention. Founded in 2010, HIMEX is a privately-held company with headquarters in Scottsdale, AZ and offices in London. For more information, please visit www.himexubi.com.
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.
Cara Sloman, +1-831-440-2411
Source: Novatel Wireless, Inc.
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