The Orchid system was developed by the multinational Thales Telematics group, and its chief executive officer Edward Belgeonne said: 'The VESA qualification means that the company now enjoys the backing of the South African insurance industry and the South African Insurance Association (SAIA).
'This VESA standard is directly quoted by insurance companies when certain vehicles are to be insured. By installing one of the five accredited tracking systems in high-value vehicles, consumers will generally save between 5-20% on insurance premiums.'
Tracking systems must go through an approval process including an inspection and vetting of all equipment and technology to qualify for VESA approval. A company must also prove that there are at least 3,000 units in its field. Also it must have proof that the company has found 100 vehicles or more that have been either stolen or hijacked.