Telefónica strikes first M2M insurance telematics deal in Germany

Telefónica launches global M2M module certification to help customers launch products quickly and efficiently

London UK Telefónica has announced that its German subsidiary has signed a deal with Sparkassen DirektVersicherung to bring the first insurance telematics product to Germany starting this month. The product will offer significant security services and the potential for consumers to save money on their car insurance. It will also encourage safer driving, while at the same time securely protecting personal driving data. The product is an M2M solution based on Telefónica’s Insurance Telematics service.

Drivers opting for the service from Sparkassen DirektVersicherung will have a telematics box installed in their car. This offers a number of benefits to the driver, including:

  • Accident notification – the box will automatically notify the emergency services in the event of a major accident, saving valuable time;
  • Driving behaviour – the box provides feedback to drivers on their driving behaviour, offering the potential for lower insurance premiums based on adopting more careful ways of driving. The best driver each month will receive free insurance for three months;
  • Car tracking in the event that the car is stolen.

 

The service is backed by stringent security and data protection measures, ensuring that only the driver can access their personal driving information and travelled routes. Sparkassen DirektVersicherung only receives the driving scores and the number of kilometers driven each month. Sparkassen can’t see any data related to driver’s location or journey history.

 

Today’s announcement follows the launch of Telefónica’s Insurance Telematics product in Germany earlier this year, enabling insurance companies to offer this innovative insurance policy to their customers.

“We are seeing rapid growth in this market across Europe as consumers recognise the benefits of telematics in helping them to save money on their insurance premiums,” said Carlos Morales, M2M Director at Telefónica Digital. “Through partnerships like this we can work together with the insurance industry to help them leverage the significant benefits this technology can bring to their businesses.”

 

 

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

Actility and Helium Network announce roaming integration to scale IoT coverage

Posted on: October 18, 2021

Actility, the provider of IoT connectivity solutions and LPWA technology, and Helium have launched a roaming integration partnership, unlocking affordable and ubiquitous coverage for millions of IoT devices.

Read more

Future of data integration: 2022 and beyond

Posted on: October 18, 2021

Traditional methods including manual creation of scripts, scrubbing the data, and later loading it into a data warehouse or ETL, (extract-transform-load) was used to integrate data from different sources. These methods were adopted in the era of resource constraints and have now become very time-intensive, expensive, and error-prone, says Yash Mehta, an IoT and big

Read more