M2M technology for car insurance telematics

Insurance Box, Australia’s first car insurance product to feature in-car telematics technology, uses KORE Wireless’ M2M network throughout Australia.

Vice President and General Manager at KORE Wireless Asia Pacific Shane Murphy said the M2M technology in Insurance Box would transform the Australian insurance industry. “This technology allows data to be easily transferred, read and analysed so that insurance providers can determine just what the driver will pay for their premium.”

Insurance Box was designed and manufactured by Intellitrac Australia, a provider of GPS tracking and mobile workforce job dispatch systems. “We’ve already seen this technology rollout throughout the US and Europe, and now we are going to be able to experience how M2M can deliver efficient and effective solutions to manage costs associated with insurance in Australia,” Murphy said.

“The motor vehicle insurance industry has always been based around personal factors and the generic risk associated with the make and model of your vehicle. This technology allows vehicle usage and driving behaviour to be analysed so that insurance premiums are fairly calculated. It means good drivers can begin reaping the rewards of safe driving,” said CEO and founder of Intellitrac Dean Calapai.

Frank Peppard, Chairman of Insurance Box, said, “IntelliTrac have proven experience delivering telematics and mapping solutions and we are fortunate to have had access to their expertise and innovative thinking on the three year journey to develop Insurance Box for Australian conditions.”

“This is a strong incentive for all drivers, as they have direct access to see their driving statistics almost instantly after installing the device into their car,” Murphy said. M2M technology is mostly recognised for its application in the transport and vehicle industry through its use in fleet tracking.

“Fleet tracking is the most common application for M2M technology as it allows you to see where you can make improvements to your service offering. It’s all about making your service as efficient as they can be,” Murphy said.