Corporate Press Releases

IMS and Nationwide to Deliver Joint Workshop Panel at Connected Car Insurance USA 2016

Join IMS with customer Nationwide in a candid discussion about insurance telematics partnership success and market leadership best practices.

Waterloo, ON, September 1, 2016 – Intelligent Mechatronic Systems (IMS), a leading connected car and insurance telematics solution provider, and Nationwide, a top 10 auto insurer in the United States, will be participating together in a workshop panel discussion at Connected Car Insurance USA 2016 in Chicago, Illinois on September 7, 2016. The discussion will include topics relating to their partnership on Nationwide’s SmartRide program.

Nationwide selected IMS as its solution provider of choice in 2010 to enable, support and scale a widespread insurance telematics program, SmartRide. SmartRide participants are able to receive coaching and feedback based on driving behavior while also being rewarded insurance discounts up to 40% for safe driving and 10% just for signing up.

You can join IMS and Nationwide at Connected Car Insurance USA 2016 on September 7 at 3:15 pm CDT. Topics discussed during the panel will include:

  • Pros and cons around sourcing strategies, data collection models, financing alternatives and other lessons learned.
  • Potential new uses for telematics within the insurance value chain and methods to help drive policyholder adoption.

“IMS is delighted to stand with our partner Nationwide to discuss topics based on our collective industry learnings and best practices.” said Ben Dailey, Executive Director of US Sales at IMS. “Our DriveSync connected car platform continues to deliver on the necessary data collection, data analysis and analytics that Tier 1 insurers like Nationwide require to accurately and successfully support solid experiences for their members. Our experience and expertise help insurers overcome challenges they face around customer acquisition, retention, engagement and claims reduction – which we are pleased to help highlight and share with the industry. ”

“Telematics is fundamentally shifting the way personal automobile insurance is rated and underwritten.” said Larry Thursby, Vice President of Property and Auto Product/Pricing at Nationwide.  “Creating an engaging program that is easy for members to use and understand takes thought and effort. We are pleased to share the stage with IMS as a partner who has worked with us from the start and look forward to evolving, growing and expanding our program with them to meet consumer demands.”

> To learn more about IMS and Nationwide’s current and growing partnership, download the Nationwide customer case study below or pick up your copy at IMS’ booth, #16/17.


 



Nationwide Case Study:

“ Telematics is fundamentally shifting the way personal automobile insurance is rated and underwritten,” said Larry Thursby, VP of Property and Auto Product/Pricing at Nationwide. “But creating an engaging program that is easy for members to use and understand takes thought and effort. We’re pleased to have IMS as a partner who have worked with us from the start and look forward to learning how we can evolve SmartRide to meet consumer demand. ”

Key Challenges:

Often on the cutting edge of industry trends, Nationwide identified usage-based insurance (UBI) as a disruptive concept and strategically decided to be both an insurance telematics pioneer and market leader in the United States. Recognizing the resource challenges and technical complexities to build an in-house solution, Nationwide chose to partner with a telematics service provider to enable, support and scale a widespread usage-based insurance program. Key decision criteria included:

Key decision criteria included:

  • Comprehensive, end-to-end usage-based insurance solution with data collection, analysis and management; as well as data integrity and security.
  • Knowledgeable technology provider with an understanding of the auto insurance industry.
  • Technology provider who can assist with active policyholder engagement and focused customer experience.
  • Clear product roadmap and vision

The Solution:

Nationwide selected IMS, a leader in connected car and insurance telematics solutions, to respond to its technology needs while balancing marketing and branding goals for policyholders. IMS’ UBI solution was selected with the following capabilities in mind:

  • Data collection, transmission and analysis utilizing IMS’ award-winning DriveSync® connected car platform.
  • Customer-branded experience,including end-user portal for policyholder coaching and feedback.
  • Logistics and fulfillment of OBD devices.

Why IMS:

  • Stability and scalability of both the IMS UBI Intelligence solution and back-end DriveSync connected car platform.
  • Experience and expertise in UBI deployments – and extensive knowledge of the insurance vertical.
  • Best-in-class security model and architecture that is reliable and proven.
  • Strong technology roadmap including integration with policy and claims management systems as well as automotive OEMs.

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