Top 100 Insurer Signs Agreement with SOBRsafe to Sponsor Customer Pilots
A-Rated Carrier Evaluating SOBRsafe as Potential Embedded Safety Solution for Customer Discounts
Denver, CO, June 8, 2022 – SOBR Safe, Inc. (Nasdaq: SOBR) (SOBRsafe™ or the Company), providers of fast, accurate and hygienic solutions for alcohol safety management, today announced that it has signed an agreement with a Top 100 Property & Casualty insurance company to conduct two pilot tests with last mile fleet customers, as paid for by the insurer. The A-rated insurer is evaluating SOBRsafe for potential nationwide integration, to empower commercial customer safety savings – akin to telematics and “safe driver discounts” in the consumer vehicle market.
Stated SOBRsafe Chief Revenue Officer Michael Watson, “This agreement and these pilots represent a significant step to becoming an integral part of the insurance value equation. Each of our initial customers is receiving insurance discounts, and we have also signed referral agreements with multiple prominent insurance agencies. We are executing our greater insurance strategy ahead of anticipated pace, and we look forward to sharing additional progress toward establishing SOBRsafe as an industry safety standard.”
SOBRsafe’s flagship solution SOBRcheck™ was recently named a “Game Changer” by the Michigan Manufacturers Association (view announcement here). As described in the article, “featuring real-time results and data analytics, SOBRcheck immediately detects the presence of alcohol through a simple, non-invasive finger touch — no blood, no saliva, no breathing into any kind of device. These results enable employers to uniformly and objectively manage their current alcohol policy, and prevent alcohol-related catastrophes on our roads and in the workplace before they happen.”
About SOBRsafe™ The annual cost of alcohol abuse in the U.S. is $249 billion. Nearly half of all industrial accidents with injuries are alcohol-related, and 1-in-10 U.S. commercial drivers test positive for alcohol (the highest rate worldwide). In response, SOBRsafe™ has developed a proprietary, touch-based identity verification, alcohol detection and cloud-based reporting system. The technology is transferable across innumerable form factors, including stationary access control, personal wearables and for telematics integration. A preventative solution in a historically reactive industry, it is being deployed for commercial fleets and workplaces; other intended applications include managed care and young drivers. This patent-pending alcohol detection solution helps prevent an intoxicated worker from taking the factory floor or a driver from receiving the keys to a truck, bus or heavy machinery. An offender is immediately flagged, and the employer (or parent, rehab sponsor, etc.) is empowered to take the appropriate corrective actions. At SOBRsafe, we are creating a culture of prevention. For more information, visit www.sobrsafe.com.
Safe Harbor Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. SOBR Safe, Inc., (Nasdaq: SOBR) (the “Company,” “SOBRsafe,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the performance of our alcohol detection technology and devices, potential manufacturing and supply issues related to the production of our devices, our ability to meet production demands, our ability to expand our sales organization to address existing and new markets that we intend to target, our ability to effectively compete in a competitive industry, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
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