Qualcomm has announced the launch of the Pay-As-You-Drive (PAYD) and Pay-How-You-Drive (PHYD) services, two new telematics solutions for the auto insurance market. PAYD and PHYD enable these insurance companies to correlate the cost of motoring insurance directly to vehicle use measured against time, distance and place. This new, user-based insurance solution will be commercially available in the autumn of 2010.
The PAYD and PHYD solutions will give auto insurance companies access to a full suite of features, ranging from standard data, such as accurate kilometers/miles, reporting to complete accounts of the time of day and types of road driven and to detailed reports, statistics and alerts on driving behavior.
The development and introduction of these new services for the car insurance market represents a significant step for Qualcomm Enterprise Services, which has traditionally developed and implemented fleet management solutions specifically for the transportation and logistics industry.