Deutsche Tel takes M2M into insurance
German incumbent Deutsche Telekom is utilizing M2M technology in a usage based insurance set up for cars.
The telco is working with telematics and analysis firm DriveFactor to offer insurance firms a service that tracks and evaluates driving behavior, to enable insurers to offer pay as you drive packages to individual customers.
A GPS tracker gathers the information and sends it by cellular networks to DriveFactor servers for analysis, before it is forwarded to the insurance firm.
A Deutsche Telekom statement explains the system can be installed in European cars dating from 2001 onwards, which in Germany and UK gives it an estimated market of 65 million vehicles.
Insurance companies are increasingly offering usage based packages to encourage good driving. Deutsche Telekom’s system assesses elements including how vehicles accelerate, brake, and take corners.