HIMEX and Novatel Wireless Join Forces to Deliver Advanced Usage Based Insurance Solutions
February 27 2014 - 8:00AM
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.
KEY HIGHLIGHTS:
- 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.”
About HIMEX
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.
Nadel PhelanCara Sloman, +1-831-440-2411cara@nadelphelan.com
Novatel Wireless, Inc. (NASDAQ:MIFI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Novatel Wireless, Inc. (NASDAQ:MIFI)
Historical Stock Chart
From Apr 2023 to Apr 2024