Sprint has rolled out new integrated insurance solutions usage-based insurance (UBI) services designed specifically for the auto insurance industry, which will assist in driver safety, reduce risk and save consumers money.
According to the firm, it has integrated wireless network, hardware, driver analytics and scoring to deliver usage-based insurance.
Sprint will be the first wireless carrier to provide a low-cost turnkey trial program for insurance carriers to start their own trials and pilot programs.
Integrated Insurance Solutions will enable insurance firms to offer customers customized discounts based on their driving habits.
The new solution is equipped with a small device and can be plugged easily into the diagnostic port, which records vehicle information and driver behavior data and transmits them through Sprint wireless network, claims Sprint.
After receiving the data, a cloud-based system analyzes the data with driver scoring software, which enables insurance carriers to improve driver risk assessments, reduce costs and improve profitability.
Sprint president-global wholesale and emerging solutions Matt Carter said Sprint has assembled all the necessary components together so that insurers have a single point of contact for all UBI-related needs.
"We are working with industry-leading companies to help insurance carriers offer more options and help the policyholders drive more safely and save money. Sprint is committed to making transportation safer through our dependable and continually improving network," Carter added.