Winner of the 2018 award for Innovation Concept, category for large enterprises
Netstar in the driving seat of the Internet of Things when related to GSM connectivity
So you thought Netstar was just a vehicle-tracking company? That’s only half the story. Quietly and without blowing its own horn, the company has reinvented itself as an Internet of Things (IoT) business built for the future when related to GSM connectivity.
Netstar’s IoT platform has opened up a host of new business possibilities that the company is wasting no time in exploring, says Francois Stols, Chief Technology Officer.
Based on open source technology – a departure from Netstar’s traditional closed-source model – the IoT platform is highly scalable, highly redundant and capable of ingesting “massive” amounts of data for Netstar’s customers, according to Francois.
When he says massive amounts of data, he means massive amounts. Between 250 million and 300 million messages a day are streamed via the platform to insurance companies and brokers, as well as Netstar’s own emergency control centre.
These millions of messages originate from over 700 000 Netstar subscribers with devices installed in cars and trucks on South Africa’s roads (and some assets too; horse saddle recovery is another new market where Netstar is leaving its tracks).
All this data has immense value for insurers and companies with large vehicle fleets. “The better they understand driver behaviour, the better they can manage their business costs and risk,” says Francois. “Some of our insurance clients base their entire insurance model on the data we provide.”
The beauty of Netstar’s IoT platform is the flexibility and scalability that Francois mentioned earlier. Insurance players of all sizes use its data-streaming capabilities, from small and advanced brokerages through to large and major insurers.
While the platform is the same for all, the communication medium and technology service is not. Small brokers are serviced through a web portal, mobile app and insurance dashboard, while advanced brokers have additional integration. Large insurers receive their data via the IoT platform from the devices installed in vehicles.
Not content with being one of the first vehicle trackers to make headway with InsureTech, Netstar is lengthening its lead through paperless device fitment, automated capturing for workforce management and the like. It’s also exploring new market possibilities like collision avoidance systems in the mining industry, not to mention the vast potential of India, which has about 400 million vehicles on its roads.
As the saying goes: Success is not a path you find but a trail you blaze.