Mobile Telesystems OJSC and Renaissance Insurance Group, Ltd. announced the launch of Smart Car Insurance, a pioneering fleet management telematics solution enabling corporate customers to reduce costs of auto insurance. Smart Car Insurance is a machine-to-machine (M2M) solution that evaluates driving behavior and allows insurers to determine amount of the insurance premium based on the track record of drivers. The vehicle is fitted with a small device that captures vehicle information and driver behavior data, which is transmitted over MTS network.

Under the partnership agreement, a client of Renaissance Insurance will get a discount on using MTS-s M2M service Mobile Employees that allows businesses to track locations of vehicles online and monitor mileage and fuel consumption. This new product launched jointly by MTS and Renaissance Insurance empowers corporate customers with analytical tools that help to asses and improve the quality of fleet management.