Insurance TelematicsValue-Added Services

Verisk Insurance Solutions aligns with IMS’s DriveSync connected-car technology

Published: June 18, 2015 | Jersey City, N.J., United States

Verisk Insurance Solutions announced a new strategic alliance with global connected-car company Intelligent Mechatronic Systems Inc. (IMS), a provider of comprehensive insurance telematics services. Verisk Insurance Solutions is a Verisk Analytics business.

Backed by sophisticated telematics models filed in most U.S. states, Verisk Insurance Solutions has aligned with IMS because of its well-defined and proven approach to deploying successful insurance telematics programs worldwide. This strategic alliance signifies the extension of IMS strategy to continue offering insurers best-of-class choices for driver analytics insight.

“Our telematics models are based on detailed actuarial analysis of auto claims losses, which puts policyholder driving behavior in context with real-time driving conditions. Verisk is pleased to collaborate with IMS to provide our powerful high-performance analytics and driver risk scores to insurers.” – Jim Levendusky, Vice President of Telematics at Verisk Insurance Solutions

“IMS brings tried and tested expertise in end-to-end operations, logistics, customer support, and innovation that insurers can implement today. IMS has teamed with Verisk because of its close network of relationships within the property/casualty insurance market and its ability to bring its filed, market-ready Safety Scoring™ and GeoMetric programs to our insurance telematics technology.” – Ben Dailey, executive director of U.S. Sales and Business Development at IMS

To date, 43 states have approved the Safety Scoring program, which monitors driver behavior and provides a risk score that underwriters can use to provide discounts for safe drivers. GeoMetric, a risk score and driver discount rule that looks to reward policyholders who drive in areas safer than where their vehicles are garaged, is currently available in 34 states.

Source: Intelligent Mechatronic Systems Inc. (IMS)

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