A South African company has launched a real-time vehicle-tracking device that details the location and speed of a car. The insurance industry believes this could have an impact on premiums.
A South African company has launched a real-time vehicle-tracking device that details the location and speed of a car. The insurance industry believes this could have an impact on premiums.
The reported that South African company Louise Group International had acquired the rights through new subsidiary SmartSurv to the tracking device, based on a General Packet Radio Services (GPRS) platform.
SmartSurv managing director Victor Kotze said the GPRS platform provides instant connections through which information can be sent or received in real time. Once the device is activated an sms containing the word “where” is sent to the vehicle. The system sends a message back stating the location of the car and its speed. The vehicle can be tracked through a 24-hour remote access via cellphones or the internet.
Insurance companies believe it will help their industry as the system will have all the data of the vehicle before and during an accident. This will help insurance companies assess claims with more accurate information. “This added feature is bound to have an impact on insurance premiums,” said Jean Gloyne of Associated Insurance Brokers.
Kotze said the system will also be useful for fleet management. He said that a fleet manager could set the system to send a message if a vehicle is being used outside permitted hours. It will also give detailed monthly reports on the usage of a vehicle with details like average speed and distance travelled and areas visited.
