EarthSearch Communications Encourages Usage-Based Insurance System via AUTOSEARCH GPS Device At No Cost To Insurers

EarthSearch will approach the US insurance industry with a revolutionary program that offers their premiere GPS product AutoSearch at no cost. Benefits include reduced risk of car theft, increased safety, and reduced premiums; all while encouraging safer driving behavior and clean driving records. Insurers benefit with up-to-the-minute usage stats, decreased fraudulent claims, improved underwriting guidelines and enhanced revenue and profits

ATLANTA, GA (PRWEB) November 3, 2004 -- When EarthSearch Communications (ESC) launches AutoSearch this month in the US, the focus will be on insurers, commercial fleets and the automotive industry. After successful tests and pacts with automakers and telecommunications companies in South America, EarthSearch will approach the US insurance industry with a revolutionary program that offers their premiere GPS product AutoSearch at no cost.

In earlier attempts to use GPS technology for determining a usage-based rating system, by monitoring a driver’s driving behavior then gauging risk, some auto insurance industry pioneers of the system found that their use of GPS technology failed due to “… prohibitive costs, complex production and device installation...” EarthSearch plans to eliminate those barriers by facilitating a program that allows insurers to promote the installation of the AutoSearch device free of charge to its customers with the acceptance of a monthly service charge to be paid by the insured. The AutoSearch installation process takes only 45 minutes for those cars that are not already equipped with the technology.

According to Chairman/CEO Kay Aladesuyi, “By adopting the AutoSearch product, insurers can develop a Mutual Interest Relationship with their clients and set their product apart from the pack, by offering a variety of benefits including reduced risk of car theft, increased safety, and reduced premiums; all while encouraging safer driving behavior and clean driving records. Insurers benefit with up-to-the-minute usage stats, decreased fraudulent claims, improved underwriting guidelines and enhanced revenue and profits. Eventually this product can level the playing field for all insured individuals because rates will be based solely on usage, not gender, your neighborhood or the time of usage ”

For insurers the ability to reduce fraudulent claims and recover stolen vehicles quickly, means less pay out and increased profit. Leaner and more underwriting data can increase revenue. For example, data from the vehicle history and impact records can help determine who is at fault if a car rear ends another. Velocity if negative tells which car was moving backwards, positive velocity tells a different story, thereby taking the risk out of determining who is at fault and who should pay. Vehicle history and impact data also verifies a driver’s claim to have been involved in an accident at a particular time and location. Ignition detection can provide data on whether a vehicle was driven with a key or hotwired. If hotwired it will be caught by the AutoSearch 3D Geo Fence feature. Overall, the device offers benefits to the insurer and security for the insured.

AutoSearch can be customized to access information such as diagnostics, speeding, and vehicle location through the Internet, by phone or PDA. Stolen vehicles can be remotely disabled for recovery. AutoSearch can be manipulated to meet the demands of small and large fleets, individual use, in addition to other equipment and personal assets such as boats. Its return on investment can be calculated by increased productivity, improved consumer satisfaction and loyalty, extended life of mobile assets, reduced theft and damage and decreased insurance costs.

EarthSearch will be the first in the US to offer the breakthrough 3D Geo Fencing technology. 3D Geo Fencing provides the shortest theft detection radius on the market today--10-feet in any direction—up, down, backwards and forward. Other features offered by AutoSearch include vehicle route tracking, navigation capabilities, panic buttons for emergency support, remote alarm devices that detect unauthorized drivers and disconnect batteries, real-time start/stop logging, and mileage and hour counters to monitor engine use.

To date the AutoSearch device has been successfully marketed to Volkswagen, Renault, Telecom Italia Mobile, Mercedes Benz, and Claro in South America.

ESC is a privately held company based in Atlanta, GA, with fleet management and PR divisions in the US, Curitiba and Sao Paulo, Brazil; and a market development office for its UK operation. EarthSearch Technologies, a research & development office in New York City, is currently developing proprietary software products that will facilitate location-based billing solutions. ESC is scheduled to launch this fall 2004. The company will offer the most advanced application of Location Based Solution technology on the market for Mobile Asset and Fleet Management operation. For more information visit www.earthsearch.us, or contact Karen Glover at SingleSource Consulting 718-941-5049 or e-mail protected from spam bots.

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Source :  http://www.prweb.com/releases/2004/11/prweb173995.htm