#1 Telematics Technology Provider for OBD Devices in North America Seeks Growth in Latin America
NOVI, MICHIGAN (July 29, 2014) Danlaw Inc. (Danlaw), the #1 telematics provider for OBD devices in North America, is announcing their strategic relationship with OneTierra as they expand into the Latin American insurance and fleet markets. OneTierra Services Global team is based predominantly in Emerging Markets, where the greatest opportunities lie in terms of market size, adoption of new technologies and growing economic performances.
According to the Federal Insurance Office, Asia and Latin America are experiencing the highest rise in insurance premiums worldwide since 2007. As a result, drivers and fleet managers alike are seeking better insurance offerings and telemetry based innovations. Furthermore, usage-based insurance (UBI) markets are moving towards globalization. UBI is already prevalent in the U.S., United Kingdom and Italy, estimated to total more than 100 million policies generating more than $80 billion in premiums by the year 2020. The U.S. leads market growth, but new markets are expected to emerge in Latin America and Russia in the near future.
Danlaw offers flexible, easy to install, wireless communication solutions to collect critical vehicle, accelerometer and GPS information from the vehicle’s OBD-II diagnostic port. This meets the needs for UBI and Fleet management alike. “Danlaw is excited to partner with OneTierra to offer our extensive portfolio to a growing market,” said Tom Rzeznik, President of Danlaw. “We strive to be the #1 choice for quality telematics solutions to accelerate the success of our global partners.”