Waypals: Empowering Telematics Underwriters, Automotive Partners and Vehicle Owners with the Power of IoT


Telematics Insurance is gaining popularity these days. According to reports, telematics insurance market is expected to reach USD 2.21 Billion by 2020 that too at a CAGR of 20.9%. Upsurge in the demand of telematics solution in insurance and automotive sector, increased penetration of smartphone and internet and consumer enthusiasm for in-car connectivity are seen as the motivating factors behind this optimistic projection.
Insurance companies and automotive players thus need solutions that offers flexible, scalable and secured cloud based infrastructure that can handle multiple devices in real time and analyze voluminous data generated from multiple sensors. Noida based Waypals is one such innovative solution provider.
Waypals is a pioneer in the field of Telematics Insurance and Automotive IoT services. The company leverages the potential of advanced technologies like Machine Learning, Big Data Analytics and Cloud Computing in crafting state-of-the-art automotive solutions. The company assists and empowers insurance companies and especially underwriters to do risk based pricing based on various parameters including driving behavior, type of road driver is using, distance travelled, speed and more. Their technology can also monitor braking and cornering to build up a picture of driving style. In short period of time, the company has built a niche in the market with its cutting-edge solutions with special focus on scalability and security of end-user’s data.
USP of Waypals
Insurance companies want to launch Telematics products, but would not like to worry about backend technology, devices, networking and analytical tools. They are more concerned about the technology that provides data, which can benefit their underwriters and actuaries to calculate the justifiable and competent pricing for their insurance products. So, they look out for reliable solution providers who can provide these services to them.
Waypals fulfills that need by providing a separate admin console. Through this console, Insurance companies can access fully processed insured’s data on the touch of button and can view complete vehicle data.
Waypals has a team of adept data scientists that have proficiency in crafting effective data architecture and can derive meaningful insights by processing this valuable data with the assistance of advanced analytical tools.
Robust Data Security makes its Solution More Reliable  
Waypals understands the importance of client’s data. Therefore, its efforts always in the direction of providing leading edge solution while safeguarding back-end systems and hardware components from any vulnerability. While crafting the solution at the initial stage (design), Waypals professionals take care of cyber-proofing its IT infrastructure and services. Their systems are built with advanced network protection at different layers and follow security channels with layers of encryption, firewalls and other access control systems. In order to upscale the security to the next level, the company supports Over-The-Air (OTA) updates that allow clients to make firmware and configuration updates remotely to their devices at any point of time to eliminate any susceptibility.
The company is on the way to upgrade its security further by implementing the popular facets of Block Chain technology.
Benefits of its Services
Theft Control:
Today, almost every car comes up with an OBD port. Waypals provide IOT devices that can be easily fit on the OBD port of the car. Incase one needs added security, Waypals provides other variant of these Connected Vehicle Devices that can be hard-wired into the car and in case of theft, the driver can immobilize the car.
This added security feature is a big hit among customers as the apprehension amongst the car owner has augmented sharply over the years due to the increased cases of car theft in many regions in the world. According to source, in UK alone, cases related to car theft have risen sharply by 30 percent (in the last year).
Crash Alert:
Life is full of surprises, the good one and the bad one as well. In India alone 1,50,000 people get killed each year due to road mishaps. Destiny is not in anyone’s hand but one can control the damages if prepared in advance. Many people get killed only due to the non-availably of critical resources on the crucial hours or due to the delayed availability of those vital resources. Waypals thus have introduced an Emergency Crash Alert System, which automatically sends an alert to your emergency Contacts with the exact location of the crash site. This quick alert at the time of calamity can prove to be a life saver as it can mobilize critical resources at the location of crash in quickest possible time.
Automobile real-time location update, access to vehicle document via cloud, secure car park, battery health update, social chat group among others are some of the services of Waypals that provides a great sigh of relief and comfort to the car owners.
The Judicious Leadership 
The architect who is crafting the success story of Waypals is Sukhvinder Lamba, the CEO. He is Computer Engineer and an alumnus of Indian Institute of Management, Bangalore (IIMB) who has a relentless desire to succeed. With his vast corporate experience of over 20 years in the space of IoT, Connected Automobiles, Telematics Insurance and Cloud Computing, this astute entrepreneur is driving Waypals towards the path of glory.
Waypals is the market leader in Connected Vehicle Technology with specialization of Consumer Cars and Telematics Insurance (UBI and Driving Score). “In near future, the company has aspiration to expand its business footprint even into the unchartered territory and want become preferred partners for Automotive OEM and General Insurance companies in India and abroad,” concludes Sukhvinder.
Source :-The 10 Best Performing IoT Solution Providers

Related Posts