We are pleased to announce Integrated Insurance Solutions from Sprint. We will offer integrated, end-to-end usage-based insurance (UBI) services designed specifically for the auto insurance industry. Sprint is the first wireless carrier to offer a low-cost turnkey trial program for insurance carriers to start their own trials and pilot programs.
Integrated Insurance Solutions from Sprint provides insurance carriers the ability to offer customers personalized discounts based on their driving habits. The vehicle is fitted with a small device that easily plugs into the diagnostic port. It captures vehicle information and driver behavior data which is transmitted over the Sprint wireless network. A cloud-based system analyzes the data with driver scoring software that enables insurance carriers to improve driver risk assessments, reduce costs and improve profitability.
With Integrated Insurance Solutions from Sprint, insurance carriers will be able to identify better drivers and reduce risk. Carriers will be able to receive detailed analytical data about participating policyholders’ driving behaviors. In addition to “pay as you drive” programs that provide discounts to consumers based on driving behavior, insurance carriers can also offer their customers value-added services such as Web-based tools that let them monitor their vehicle health, get tips on how their driving behavior can be adjusted to be more fuel efficient and even monitor their vehicles’ location.
Sprint is demonstrating leadership in this emerging, fast-growing market by offering innovative usage-based insurance solutions that offer many benefits to insurance carriers and consumers. The superior location capability of the inherently secure Sprint CDMA network will assist Integrated Insurance Solutions from Sprint in providing insurers and their policyholders with accurate and reliable data analytics.
Wireless Network Enables Innovation
UBI is the latest example of how Sprint is leveraging its wireless network and advancing machine-to-machine (M2M) technology. Sprint has been at the forefront of M2M technology with more than 12 years of experience in this wireless industry revolution. The Sprint 3G network has a nationwide footprint and uses inherently secure CDMA technology.
Over the years, Sprint has joined and supported a large and diverse portfolio of innovative companies to create smarter wireless solutions that change the way people work and live. Sprint has certified hundreds of M2M solutions and has millions of devices running on its network today. As M2M technology continues to grow, it will be able to benefit from Sprint’s brand-new network, which is currently being built around the country. The Network Vision initiative is designed to enhance customers’ network experience with faster data speeds, improved voice quality and easier connectivity. Sprint expects to complete Network Vision by the end of 2013.
About the Sprint Emerging Solutions Group
Sprint’s M2M leadership has earned prestigious third-party validation – including the top-ranked North American M2M provider (and second-ranked carrier overall among 12 global service providers) by Analysys Mason, and the Frost & Sullivan 2011 Customer Value Enhancement Award in North America for Machine to Machine Communications. To learn more about Sprint’s M2M offerings, visit www.sprint.com/m2m.
Press Release: Sprint Launches Integrated Insurance Solutions