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IMS Releases Three Usage-Based Insurance Smartphone Apps

The move represents a new breed of turnkey UBI services.

Following Aviva UK's re-entry into the usage-based insurance market using an Android app, Intelligent Mechatronic Systems (IMS; Waterloo, Ontario) has released a suite of apps that insurers can add to their usage-based insurance programs.

A basic mobile portal application provides access for the UBI program's PC-based portal via a user's smartphone, enabling real-time driving feedback and other portal content. The stand-alone UBI application captures a base level of data using a smartphone gateway, so insurers can enter the UBI market with no start-up hardware costs. The third option – a connected UBI application – provides value-added premium services in addition to insurance to customers.

"With mobile apps being so prevalent in our wireless society, it makes sense to offer applications as part of our UBI offerings. Our new IMS UBI Mobile Solutions are innovations designed to make it as easy as possible for all companies to enjoy success in the UBI market," said David Trueman, VP Engineering at IMS, in a statement. "Whether the goal is to reduce start-up costs by eliminating hardware fees, cut lengthy program development and deployment times, or simply offer premium services for revenue generation, we have a solution."

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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