Sprint has partnered with Intelligent Mechatronic Systems, a connected car technology company in Canada, to launch IMS UBI Intelligence, a turn-key usage-based insurance platform, the companies said.
IMS UBI Intelligence offers insurers a way to develop policy premiums based on an individual’s driving behavior and the ability to discover new, related revenue streams, the companies said, and removes the need for insurers to work with multiple suppliers or partners before implementation of a usage-based insurance program.
“Technology is moving fast and IMS is pleased to collaborate with Sprint to provide our DriveSync connected car platform available today to insurers,” said Ben Dailey, U.S. director, sales and business development for Intelligent Mechatronic Systems (IMS). “With IMS UBI Intelligence, insurers now have a fully customizable tool at their fingertips that they can deploy to a variety of customer segments.”
To take full advantage of IMS’s DriveSync platform, Sprint said it intends to bring additional programs, such as coaching for young drivers, infotainment services, vehicle diagnostics and fleet management solutions, to their customers. The interest in UBI continues to peak as insurance companies customize their in-vehicle offerings for broad consumer groups, such as everyday commuters, new drivers and commercial fleets. For drivers, the advantages could include lower insurance costs.
“Our auto insurance carriers have been requesting a single source for all their UBI needs,” said Mohamed Nasser, director of M2M product and marketing for Sprint. “We have selected IMS because they provide the most complete, turnkey solution available on the market today, including hardware, logistics, support, secure data warehousing and analytics.”
