Malawi’s United General Insurance to use Inseego fleet analytics to calculate premiums

Inseego, a global provider of SaaS and Internet of Things solutions, is pleased to announce a new partnership with one of Malawi’s leading short-term insurance companies, United General Insurance Company. Providing the proprietary Pay How You Drive usage-based insurance model through its Ctrack telematics solution, which utilises tracking devices to gather and monitor data related to driver behavior including accidents, fuel consumption and mileage, Inseego will enable United General Insurance to offer its customers a clear path to increased driver safety and lower insurance premiums.

“With high-performance analytics and data modeling techniques, Inseego’s Ctrack offers United General Insurance the most advanced, accurate assessment and real-time insight into driving behavior,” says JW Oberholzer, Ctrack’s International Channel Manager for Africa. “Unlike traditional models, Ctrack provides for an ongoing, personalised dialogue between insurers and policy holders. With communication central to influencing change, we are confident that Ctrack will transform United General Insurance’s relationship with its customers from one of necessity to one of mutual benefit.”

Negligent driver behavior is one of the main causes of road-related accidents worldwide. In Malawi alone, it accounts for around 90% of all accidents, with speeding, fatigue and driver distraction listed as the primary causes. Insurance telematics, in particular, is increasingly being viewed as a disruptive force that will have a major impact on the auto insurance business globally over the next decade.

Backed by 30 years of experience, Inseego’s Ctrack solution has kept mobile assets of consumers, small and mid-sized businesses and large enterprises always visible, resulting in vehicle security, safer driving and more efficient fleet operations. By embracing the Ctrack insurance model, United General Insurance will not only play an integral part in improving road safety in Malawi but also strengthen its customer relationships by rewarding attentive and responsible drivers with lower insurance premiums. With the first 1,000 units already delivered and an aggressive rollout strategy set in motion, United General Insurance indicates the expansion of Ctrack across its entire customer base in the near future.

“Invaluable partnerships like these will provide significant added advantages to both insurance providers as well as their customers who have the Ctrack telematics device installed in their vehicles,” adds Oberholzer. “The data gathered can be used to not only reduce claims loss ratios as well as minimise fraudulent claim pay-outs but also influence positive behavior behind the wheel, which ultimately pays off in reducing accidents and loss of life worldwide.”

Inseego sells its telematics solutions under the Ctrack brand, including its fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage-based insurance platforms.

United General Insurance Company is one of Malawi’s leading short term, general insurance companies and has been operating in Malawi for over 40 years. UGI shareholders include NicozDiamond Insurance, National Bank of Malawi and ZIMRE Holdings.

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