(Reuters) – U.S. wireless carrier Sprint said on Thursday it will move into the hot market for tracking technology that lets auto insurers monitor how, where and when their customers drive.

Sprint said its new Integrated Insurance Solutions unit would let companies offer what are known as "usage-based insurance" programs.

Such programs, most notably Progressive Corp's "Snapshot", track variables such as driver speed, location and braking via a diagnostic device plugged into the car. Insurers analyze the data and use it to offer the best drivers discounts.

Sprint said it would offer insurers a complete package — the tracking hardware, wireless services to transmit the data and access to the software needed to score driver behavior.

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