Professional services company Towers Watson has designated connected-car company Intelligent Mechatronic Systems as a preferred usage-based insurance provider for its DriveAbility clients.
Participating drivers can plug IMS' DriveSync device directly into their vehicle to measure driving behaviors, including distance, time of day traveled, and vehicle braking and acceleration patterns. IMS has experience in connected car technology and UBI applications, and Towers Watson is experienced in analytics, IMS said.
Customer demand for UBI is increasing, IMS said, and the benefits for drivers who opt in to these programs include potential decreases in auto insurance rates and access to connected car services offered through IMS' DriveSync platform. The partnership implements Towers Watson's DriveAbility 2.0 score, an analytical scoring model of UBI data offered from IMS' 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.
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