Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecom operator in Russia and CIS, and Renaissance Insurance Group, one of the leading insurance companies in Russia, announce the launch of Smart Car Insurance, a pioneering fleet management telematics solution enabling corporate customers to reduce costs of auto insurance.
Smart Car Insurance is a machine-to-machine (M2M) solution that evaluates driving behavior and allows insurers to determine amount of the insurance premium based on the track record of drivers. The vehicle is fitted with a small device that captures vehicle information and driver behavior data, which is transmitted over MTS network.
Under the partnership agreement, a client of Renaissance Insurance will get a discount on using MTS’s M2M service Mobile Employees that allows businesses to track locations of vehicles online and monitor mileage and fuel consumption. This new product launched jointly by MTS and Renaissance Insurance empowers corporate customers with analytical tools that help to asses and improve the quality of fleet management.
Sergey Irevli, MTS Director, Head of B2B products, commented, "The introduction of remote monitoring of the vehicles after a few months leads to a reduction in fleet exploitation costs by 15-20%. Partnership with Renaissance Insurance allows our customers us to further decrease operating costs by benefiting from an individual calculation of insurance premiums and preferential terms of usage.”
Mobile Employees is an award-winning fleet management and employees monitoring service from MTS that provides for intelligent tracking and recording of fleet information. The solution is now available as a Location Based Service via SMS on feature phones and as a business application for smartphones both on Android and iOS and via dedicated GPS/GLONASS modules for vehicles. In 2013, MTS won prestigious Business Service Innovation Award for this product at the Global Telecom Business Innovation Awards honoring the most innovative solutions in the telecom industry.
MTS is the leading provider of M2M services in Russia. By the end of H1 2013, the number of M2M SIM-cards on MTS’s network exceeded two million. Roughly 40% of M2M SIM-cards are used for fleet management solutions.
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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Corporate Finance & Investor Relations
Mobile TeleSystems OJSC
Tel: +7 495 223 2025
Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/