Novatel Wireless Inc.’s technology supporting usage-based insurance, or UBI, will be used by Chipin B.V. in serving the Belgium, Netherlands and Luxemburg markets, the companies announced.
San Diego-based Novatel (Nasdaq: NVTL) supplies a self-installed mobile tracking device that provides maintenance and driving performance information to power commercial and consumer telematics services, the company said.
“We want to show that customers will benefit from UBI with more safety, less accidents and fair dynamic pricing.” said Hans Gerritsen, Chipin’s CEO. “In cooperation with Novatel Wireless …, we will deliver and expand this proposition to the Benelux market.”
London-based Ptolemus Consulting Group recently predicted that UBI will reach 100 million vehicles globally by 2020.