Published: October 08, 2014 | Waterloo, ON
Intelligent Mechatronic Systems (IMS), a leading connected car company, announced today that Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has designated IMS a preferred usage-based insurance (UBI) provider for their DriveAbility® clients.
This relationship leverages Towers Watson’s DriveAbility 2.0 score, an analytical scoring model of UBI data provided from IMS’ award-winning DriveSync connected car platform. “Towers Watson has utilized the telematics data collected by IMS, combined with a database of insured losses from several insurers, and external data such as maps, road type and weather, to create a uniquely powerful segmentation tool,” said Robin Harbage, leader of Towers Watson’s UBI product delivery.
Participating drivers simply plug IMS’ DriveSync device directly into their vehicle to measure driving behavior, such as distance, time of day traveled, and vehicle braking and acceleration patterns. The benefits for drivers who opt in to these programs include potential decreases in auto insurance rates and access to sophisticated connected car services offered through IMS’ DriveSync platform.
“IMS’ strengths in connected car technology and complete UBI solutions, coupled with Towers Watson’s analytical expertise, bring a compelling offering to the auto insurance industry looking to rapidly deploy UBI programs to meet increasing customer demand.” Ben Dailey, U.S. Director of Sales and Business Development for IMS.