Corporate Press Releases

NJM Insurance Group Selects IMS for Smartphone-based Insurance Telematics Program

NJM also using IMS‘ platform scoring models for new mobile insurance program.

Waterloo, ON, August 28, 2018 — Intelligent Mechatronic Systems (IMS), a leading connected car services and analytics provider to insurers, governments, and enterprises, has been selected by NJM Insurance Group (NJM), one of the Mid-Atlantic Region’s leading property and casualty insurers, for its new smartphone-based insurance telematics program. NJM’s program will leverage IMS’ mobile telematics technology to help policyholders become safer drivers.

“NJM is excited to partner with IMS to help deliver a broader range of value-based insurance solutions to our customers, especially one that supports our enduring commitment to safety,” said John Fink, NJM’s Assistant Vice President for Customer Experience. “IMS’ compelling mobile telematics technology, flexible platform-based approach to data insights and scoring, and extensive industry expertise have set the foundation for a great partnership.” 

“NJM is leveraging IMS’ smartphone telematics to help promote safety among its customers by challenging them to become better drivers,” said Lorie Goodmann, Executive Director of Customer Success and Support at IMS. “Working together in partnership, NJM is also utilizing IMS’ DriveSync® platform capabilities, including our proven scoring models. We are already identifying future opportunities to work together based on the strength and capabilities of our platform.”

According to industry analyst Aite Group, the use of smartphones as sensors for insurance telematics and usage-based insurance programs has grown in acceptance within the North American insurance industry.1 Furthermore, industry consultant Ptolemus adds that mobile telematics interest has resulted in insurers adopting a multi-device strategy for data insights at a time when most telematics providers only support a single device option.2 As a result, insurers are encountering business and program limitations caused by single point solution providers. Enter IMS, who is solving this industry challenge through the DriveSync® connected car platform, a 100% device flexible and data source agnostic platform for data collection, services and analytics. The DriveSync® platform enables insurers with the most comprehensive set of data collection options which includes smartphones, OBD and Bluetooth® devices, as well as embedded OEM integration. Once the data is collected, the platform intelligently recognizes variations between data sources enabling consistent analytics, scoring, and insights necessary for the delivery of insurance-based programs to policyholders.

As a leader in insurance telematics solutions, IMS has pioneered mobile telematics technology. IMS owns the patents for smartphone-based telematics in North America and Europe. For insurers looking to take advantage of IMS’ mobile telematics technology and data source agnostic platform, visit IMS at Booth 21 at the Connected Car Insurance USA 2018 tradeshow in Chicago from September 5-6, or go to https://www.intellimec.com/insurance-telematics

 

1  Aite Group, Auto Insurance Telematics Report, 2016

2   Ptolemus, Connected insurance Analytics Report, 2016

 

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