IMS | Insurance Telematics
Transform and grow your organization with our broad spectrum of insurance telematics solutions.
IMS comprehensive insurance telematics programs and services, which include Usage Based Insurance (UBI), work as a way for automotive insurers to meet customers’ needs, increase/improve/automate processes, reduce the frequency and magnitude of claims and help improve revenues and costs. Telematics-based programs enable insurers to promote safer driving behavior, increase policyholder engagement and increase policyholder retention and stickiness.
Designed to help insurers meet their various program needs, IMS offers a broad spectrum of insurance telematics solutions all powered by the award-winning DriveSync connected car platform. DriveSync platform-enabled insurance solutions and services include UBI, distracted driving detection, driver coaching, claims management, FNOL, and scoring and analytics. All services are backed by IMS’ deployment expertise and experience best-in-class security architecture, and strong intellectual property protection consisting of over 200 patents and patents pending.
Positive selection and improved behavior can reduce claims by 20%. With IMS UBI Intelligence, insurers can realize better risk assessment for premium pricing. IMS UBI Intelligence provides a complete turnkey solution for insurance companies and offers data/source device-agnostic monitoring, full logistics, data storage and customer support.
Turnkey solutions available for:
Personal Lines UBICommercial Lines/Fleet UBI
Mobile apps and digital marketing are effective tools to reduce customer acquisition costs and grow your book of business. IMS’ Try and Buy customer acquisition tool offers policyholders a 30-day free trial, and has been proven to entice trial, usage and over services adoption and acquisition.
Learn more about:
Mobile Telematics/Try and Buy/Customer Acquisition Solutions
Young drivers are 75% less likely to cause and accident after one year of telematics behavior assessment and coaching. IMS provides solutions to engage, coach and guide drivers.
Driver Coaching and Feedback
Distracted driving accounts for 50% of all automotive accidents. With IMS’ Distracted Driving capabilities, insurers can detect distracted behaviors, including time, duration and even severity level of smartphone usage while driving.
The information is displayed to the driver, for distracted driving coaching and safety awareness purposes, with the goal of reducing driving behaviors that lead to significant accidents. And of course, we also have the ability to provider insurers with a score as well.
*Distracted Driving Detection is only available for Mobile Telematics
Insurers can deter bad driving behavior using a suite of variables that includes: Time of Day, Day of Week, Distance, Cornering, Drivers Speed, Acceleration and Braking. Each individual behavior is scored independently and is rolled up into an overall safety score that policyholders can work to improve by themselves, or via engaging social competition, including available Top Driver leaderboards.
Leveraging the strength of IMS’ award-winning DriveSync connected car platform, insurers are able to offer a suite of value-added connected car services that build brand relationships, increase loyalty and offer the added value of piece of mind:
DriveSync Connected Car Platform
A comprehensive suite of interfaces allows insurers to create differentiated solutions based on your strategy and target market. Now you have the ability to create highly differentiated, bespoke solutions or leverage our reference applications to get to market quickly.
Seamless integration with third-party policy management systems provides out-of-the-box functionality for a tight process throughout the customer lifecycle including qualification, quotation and renewal.
Policy Management Integration
Seamless integration with third party claims management systems provides out-of-the-box functionality for a tight process throughout the life of a claim. This service provides the estimated severity of an incident, the point of impact on the vehicle and the location of the vehicle post-accident to facilitate faster and more efficient claims processing.
Upon confirmation, incident detection enables faster, accurate and more efficient notifications to insurance carriers, which helps facilitate replacement vehicle information or towing services for the policyholder. When coupled with claims management and event reconstruction, FNOL can reduce the average the average total cost of a claim by up to $800 if reported within 30 minutes and enable insurers to detect and prevent fraud, which cost US insurers $5-7 billion annually.
FNOL - Automatic Incident Detection
Flexibility is key to a smooth big data and analytics journey. IMS offers full flexibility in analytics and scoring to precisely assess risk for each policyholder and encourage safe driving.
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