ESTORIL, Portugal and IRVINE, Calif., Dec. 5, 2017 /PRNewswire/ -- LoJack Italia, a wholly owned subsidiary of CalAmp (Nasdaq: CAMP) and a leader in stolen vehicle recovery and innovative automotive services, announced today its LoJack Connect™ telematics solutions are now available to short- and long-term car rental agencies and insurance providers in Europe. The Software as Service (SaaS) fleet management solutions open up new opportunities to increase operational efficiencies, generate new revenue and mitigate fraud.
According to Berg Insight, the annual growth rate of fleet management in Europe is predicted at 16.4%, with an anticipated doubling of overall penetration by 2021. According to Deloitte's European Motor Insurance Study, the market share for digitally-enabled motor insurance issued could reach 17 percent by 2020, representing a market in excess of 15 billion Euros. LoJack Connect is designed to meet this demand and transform auto fleet management with its modular, customized services that address the specific business operational needs of the car rental and insurance markets.
LoJack Connect web-enabled services leverage the CalAmp Telematics Cloud and device portfolio to allow car rental companies to track mileage for preventative maintenance and utilize geofencing techniques for faster check out. Automated vehicle location features enable real-time pricing and optimized fleet distribution management. LoJack Connect featuring CrashBoxx™ instant crash alerts, predictive physical damage and accident reconstruction proactively informs fleet managers, prevents fraud and accelerates emergency response and vehicle repair.
"With insurance mandates for European drivers and rising auto fraud, fleet managers are searching for new ways to reduce costs, streamline operations and enhance the customer experience," said Maurizio Iperti, general manager for LoJack Italia. "By combining vehicle diagnostics and location information with data analytics, our customized fleet management solutions enable car rental and insurance agencies to differentiate their services and enhance their competitive position. We are excited at the initial results from our LoJack Connect service trials with several industry leaders in the rental car, long-term rental and insurance industries, and we look forward to announcing the results in the coming months."
About LoJack Italia
LoJack Italia, a wholly owned subsidiary of CalAmp (Nasdaq: CAMP), has been the market leader over the past 30 years, helping over 9 million people to protect their assets and vehicles from theft. Today, together with CalAmp, it provides innovative telematics solutions and services all over the world for a growing range of businesses and consumers. LoJack has been active in Italy for 10 years and is undergoing a strong growth phase with more than 180,000 customers. LoJack Italia is creating a new level of value for the automotive, insurance, and car rental markets and their end-customers, through innovative solutions that are easily accessible. For more information, visit lojack.it
CalAmp (Nasdaq: CAMP) is a telematics pioneer leading transformation in a global connected economy. We help reinvent businesses and improve lives around the globe with technology solutions that streamline complex IoT deployments and bring intelligence to the edge. Our software applications, scalable cloud services, and intelligent devices collect and assess business-critical data from mobile assets, cargo, companies, cities and people. We call this The New How, powering autonomous IoT interaction, facilitating efficient decision making, optimizing resource utilization, and improving road safety. CalAmp is headquartered in Irvine, California and has been publicly traded since 1983. LoJack is a wholly owned subsidiary of CalAmp. For more information, visit calamp.com, or LinkedIn, Twitter, YouTube or CalAmp Blog.
CalAmp, LoJack and the CalAmp and LoJack logos are among the trademarks of CalAmp LoJack and/or their affiliates in the United States, certain other countries, and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
SOURCE LoJack Italia