SAN DIEGO and JOHANNESBURG, South Africa, June 01, 2016 (GLOBE NEWSWIRE) -- Novatel Wireless, Inc. (Nasdaq:MIFI), a leading
global provider of solutions for the Internet of Things (IoT), including software-as-a-service (SaaS), and Vulindlela Underwriting
Managers (VUM), the preferred auto insurance provider for Uber South Africa, have joined forces to deliver a customized usage-based
insurance (UBI) solution for Uber driver-partners in South Africa. Deployments commenced earlier this month.
“We are very excited about the potential of this insurance model with the Ctrack solution. Our partnership with Novatel Wireless
has meant that we are able to take into consideration important risk factors that were previously unknown. Our hope is that this
would lead to safer roads for all of South Africa’s commuters,” said Dave Gould, Managing Director of VUM.
Uber, the innovative technology platform most commonly known for their ride-share service in 400 cities worldwide, has a large
presence in South Africa with nearly 25,000 driver-partners to date. VUM, Uber’s preferred auto-insurance provider in South Africa,
collaborated with Novatel Wireless to deliver a customized usage-based insurance program. The program encourages Uber drivers to
drive more safely by rewarding them with lower insurance premiums for those who improve their driving behavior. Their driving style
is measured by the Ctrack telematics solution that reports on performance factors such as hard braking, harsh cornering, and
excessive speeding. The technology also accurately measures distance traveled. VUM charges a set amount per kilometer, which they
will deduct from the Uber driver-partners’ fares on a weekly basis. This type of usage-based model in the automobile insurance and
automobile leasing sectors throughout Europe and Africa is coined “pay-per-kilometer,” (pay-per-kay) in which rates are measured
based on the number of kilometers traveled.
“This model combined with driver behavior monitoring has huge potential for the South African market where road fatalities are
at unacceptable levels, as good driving styles can only lead to improved safety on the road,” said Pierre Bruwer, Managing
Director of Ctrack SA. “Ctrack’s driver behavior monitoring is already being used by companies operating small and large
fleets. As adoption of such technology increases, so does the awareness and contribution to improving driving habits in the
country.”
Telematics deployments in the car-share sector create new use-cases and user-friendly business models for managing and
connecting car-share fleets. Earlier this year, Novatel Wireless announced an innovative pilot program with a leading automobile
manufacturer and car-share operator in Europe.
About Vulindlela Underwriting Managers (VUM)
VUM is an underwriting management agency for Santam Ltd. VUM have specialized in insuring all types of taxis for the last 10
years. VUM have constantly sought to embrace the use of information system and technologies to create efficiencies for our business
and better service for our clients.
About Novatel Wireless, Inc.
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leading global provider of solutions for the Internet of Things (IoT), including
software-as-a-service (SaaS) solutions for the fleet telematics market. Our innovative products and solutions provide
anywhere, anytime communications and analytics for consumers and businesses of all sizes, with approximately 164,000 subscribed
fleet vehicles for Ctrack among the Company’s 534,000 global subscribers. Novatel Wireless, Inc. is headquartered in San
Diego, California. www.novatelwireless.com. @MIFI (Twitter); https://www.linkedin.com/company/novatel-wireless (LinkedIn)
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation,
statements related to the ability of Novatel Wireless to expand its addressable markets and drive growth in service
revenue and broaden its customer base as a result of the acquisition of DigiCore, and other statements that are not purely
statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and
assumptions of the management of Novatel Wireless and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of
the date they are made, and Novatel Wireless undertakes no obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. These forward-looking statements also involve many risks and uncertainties
that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a
further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the business of Novatel Wireless in general, see the risk
disclosures in the Annual Report on Form 10-K of Novatel Wireless for the year ended December 31, 2015, and in other
filings made with the SEC by Novatel Wireless (available at www.sec.gov).
Editorial Contacts: For Novatel Wireless Anette Gaven agaven@nvtl.com 619.993.3058
