carVertical has signed a partnership deal with GPSWOX, a global provide of GPS tracking solutions, to more forward in the development of IoT.
The cooperation of these two companies signifies the commitment to enter the market of connected vehicles. This technological solution would be relevant to almost all cars, both new and used, therefore creating new possibilities for the owners of nearly 1 billion automobiles worldwide.
The idea behind „connected vehicles“ term is recording vehicle history in real time to carVertical registry and providing full control over the data it has collected to the vehicle owner. It is a one of a kind approach in the market of vehicle history reports.
Car owners will benefit from installation of IoT devices on their vehicles.
As an example, one of the primary reasons for a higher vehicle insurance cost, is the lack of correct and up to date information. In these cases, insurer is charging more, as it is taking more risk. Connected vehicles solve this problem by becoming „transparent“, i.e. providing the data of acceleration, braking, maintenance or any other data that a car provides. The assessment of each insurance case becomes individual and, often, less costly.
The problem with connected cars is that IoT devices are expensive to setup, and that the data is controlled by a third party. Even with great devices that they are — you cannot achieve proper market penetration and clarity with such conditions.
In partnership with GPSWOX, carVertical is working on a device which would be cheap, private and secure. It will not stream GPS coordinates to any servers, but insteal, will use the location data internally, as a virtual odometer.
GPSWOX is a modern company, with an experience with every OBD tracker in industry. Their knowledge of underlying software and protocols is a priceless asset for mutual partnership.