INSIGHT / October 2016

Usage Based Insurance

Usage Based Car Rental

Smart Utility Billing

Monetizing Smart Home Services

Smart Utility Billing

Red Partnerships 16

IoT Prompts New Solutions for New Business ModelsLeveraging Partner’s Engineering Prowess for Cross-selling IoT Monetization

The Internet of Things (IoT) is disrupting traditional business structures with companies

increasingly moving from ownership to usage, leasing and service based business models. In the April 2016 edition of Insight Magazine, the concept of the IoT partner eco-system was discussed including the requirement to share data from multiple sources to maximize the value to both the business and the customer.

This naturally calls for diverse expertise and sharing of data between companies from varied industries. A company’s ability to gather, aggregate, analyze and transform diverse pieces of data into consumable information and business value has suddenly become an important part of business and a differentiator.

Redknee, a leader in real-time monetization solutions, recently partnered with L&T Technology Services, a leading engineering services company catering to vertical markets including telecom & hi-tech, transportation, process, industrial products and healthcare.

The partnership has developed customized solutions by integrating

Redknee’s Connected Suite with L&T’s IoT / Cloud platform to provide end-point connectivity, advanced analytics and monetization in one integrated, platform agnostic solution.

The solution enables enterprises and service providers to provision, monitor, control and visualize their IoT based managed services in real-time. Businesses can therefore benefit from

data

mone tiz ation

policy

manag e m e nt

L&T IoT/cloud Platform

Secure DeviceMgmt Platform

EmbeddedAutomation Drive

PublicInternet

Portal & MobileApplication

PublicInternet

Monetization Site(Redknee Server)

L&T TS Service Enabling Platform

UBI Fleet Rental

L&T Technology Services Com

plet

e Sy

stem

Inte

grat

ion

Port

al D

evel

opm

ent M

obile

App

licat

ion

faster and efficient decision making and operations, improved profitability and better management of the IoT and partner eco-system.

For example, L&T Technology Services and Redknee have joined forces to create an end-to-end solution for insurance and fleet management companies. It leverages the L&T Usage Based Insurance (UBI) and Usage Based Fleet rentals solutions suite, which by using embedded automotive gateways, captures data on multiple driving parameters such as hard breaking and sudden accelerations to analyze driver behavior. This information then feeds into the Redknee monetization engine to enable the creation of flexible and fair-plans for end-subscribers.

For example, an insurance company could offer discounts to encourage safe driving behavior and help fleet management companies estimate wear and tear of vehicles. The solution also enables the end customer to access their account information in real-time to review charges and account information using a

mobile application or web based portal. These solutions have been successfully tested on our partners’ gateways and device management platforms.

This is just one example of the solution, with other applications able to assist other organizations including

telecommunications companies and digital service providers. The implementation of innovative IoT and connectivity solutions can tap new revenue models, new segments & enhance the customer experience to provide greater value to end-users.

L&T IoT/cloud Platform

data

mone tiz ation

policy

manag e m e nt

L&T Technology Services

EmbeddedAutomation Drive

Gateway

Secure DeviceMgmt Platform

PublicInternet

Monetization Site(Redknee Server)

Bridging Smart IoT Services with Smart Monetization.