Verizon Wireless has partnered with Delphi Automotive to create a tool called Vehicle Diagnostics according to Reuters.
Verizon will be selling the device, which works with any Verizon smartphone, for $249.99 with a $5-a-month service fee.
The device itself runs a Qualcomm chipset, connects to Verizon's CDMA 1X network, and uses Bluetooth 2.1 according to Reuters.
Despite the bland name, the gadget is designed to help car owners monitor, locate, and control their automobile. The tool sends alerts to a user's smartphone when the car is dealing with an issue ranging from transmission issues and malfunctioning sensors.
"People liked the idea of getting the savings because they are good drivers, but they don't like the idea of the insurance company knowing where they are all the time," said Pratt according to Reuters. So Progressive and some other insurers do not use a GPS function."
The tool also provides a push-to-start engine button simply by using a smartphone device.
Verizon is also releasing a device and app called the Automatic, which is a device-app combo designed to assist drivers who are looking to save money on gas, brake linings and more by monitoring driving habits according to Reuters.
The device is currently back-ordered, but Verizon is already taking orders for $69.95. Orders will be shipped by this summer.
"Changes in driving style can have a very big impact on fuel efficiency - up to 30 to 35 percent," says Ljuba Miljkovic, the company's chief product officer.
Delphi and Automatic do but say they will not use the data they collect for any purpose other than to work with the individual users.
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