IMS | Insurance Telematics
Transform and grow your organization with our broad spectrum of insurance telematics solutions.
Interested in learning how our Insurance Telematics Risk-Free Proposition can grow your entire book of business?
The transformative digital age has already disrupted many industries from music to car sharing and banking – now is the time for insurance. The reality is that this digital shift is resulting in new and better solutions as well as new and better ways to do business – the result: more value to the consumer. This comes at a time when consumer satisfaction with insurers is at an all-time low with high turnover, low trust and ultimately no loyalty with insurance organizations. Using technology enables you to offer greater value; build trust with policyholders; and provide rich, engaging experiences that can “Uberize” the industry.
As a result, organizations are re-engineering the way they do business and implementing telematics-based solutions equipped with connected car services that provide their users with increased customer value. The net result is more loyalty and safer drivers.
You can confidently identify and act on insights to help your business thrive by leveraging IMS Insurance Telematics capabilities to collect and analyze data of all your automotive policyholders - across your entire book of business.
Improve Loss Ratios and Simultaneously Encourage Safe Driving Practices
IMS Insurance Telematics provides every policyholder with a mobile telematics app (white-labeled) that enables valuable insurance and driver services at limitless scale and increases speed to market in ways traditional programs and infrastructure cannot touch.
Get, keep and grow customers with IMS Insurance Telematics. Our innovative and unique model for deploying and managing connected car insurance services increases customer profitability and maximizes a customer’s lifetime value, allowing both insurers and policyholders to benefit in a viable way.
Reach more of your potential and existing customers effectively across multiple channels and devices without any challenges.
Gain enhanced capabilities by extending the functionality of IMS Insurance Telematics with relevant add-on services.
Learn more about the various insurance telematics solutions, services and capabilities available through IMS.
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 are effective tools to engage new and existing customers, reduce customer acquisition costs and grow your book of business. IMS’ Try & Buy customer acquisition tool offers policyholders a 30-day free trial; and has been proven to entice trial, usage, and overall services adoption and acquisition.
Learn more about:
Mobile Telematics/Try and Buy/Customer Acquisition Solutions
Young drivers are 75% less likely to cause an 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 to reduce crashes and claims.
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 provide insurers with a score.
Distracted Driving Detection
Insurers can deter bad driving behavior using a suite of variables that includes: Time of Day, Day of Week, Distance, Cornering, Driver's 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 peace of mind:
DriveSync Connected Car Platform
A comprehensive SDK for mobile telematics and custom apps, with a suite of interfaces that allows insurers to create differentiated solutions based on their strategy and target market. Now, insurers have the ability to create highly differentiated, bespoke solutions or leverage our reference applications to get to market quickly by integrating telematics and digital services into their existing insurance app.
Seamless integration with third-party policy management systems (Accelerators for Guidewire PolicyCenter) 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 vehicle replacement or towing services for the policyholder. When coupled with claims management and event reconstruction, FNOL can reduce 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 collectively cost US insurers $5-7 billion annually.
FNOL Incident Detection
Flexibility is key to a smooth big data and analytics journey. IMS offers full flexibility in scoring and rating to precisely assess risk for each policyholder and encourage safe driving.
Scoring and Rating
IMS Business Center helps equip your program teams with program data and analytics necessary to help better manage users, inform decision makers and provide insights for measuring the success and health of your connected car or insurance telematics program.
IMS Business Center
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