Waterloo, ON (Sept. 2, 2016) – Having identified usage-based insurance (UBI) as a disruptive concept, US-based Nationwide Insurance has determined that consumer demand requires that the UBI experience is engaging and easy to use. This is the subject of a recent case study published by IMS which will be discussed at an upcoming conference.
Nationwide selected IMS as a partner to respond to its technology needs while balancing marketing and branding goals for policy holders. After a pilot project with the IMS SmartRide product in Virginia USA, IMS worked alongside Nationwide to expand to 10 additional states and the District of Columbia in less than 18 months.
In April 2016, Nationwide selected IMS as its exclusive technology partner for new state entries of the SmartRide program.
Larry Thursby, VP of Property and Auto Product/Pricing at Nationwide said “Telematics is fundamentally shifting the way personal automobile insurance is rated and underwritten. But creating an engaging program that is easy for members to use and understand takes thought and effort. We’re pleased to have IMS as a partner who has worked with us from the start and look forward to learning how we can evolve SmartRide to meet consumer demand.”
IMS and Nationwide will be participating in a joint workshop panel at the upcoming Connected Car Insurance USA 2016 in Chicago September 7-8.
The IMS case study is available for download at www.intellimec.com/nationwide-case-study.
About Intelligent Mechatronic Systems (IMS)
Established in 1999, IMS is a leader in connected car technology that enables drivers to be safer, smarter and greener. The unique approach of converging in-car infotainment, automotive telematics and wireless technology has resulted in an impressive range of solutions. From insurance and government, to fleets and everyday drivers, IMS technology revolutionizes industries. For more information, visit www.intellimec.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
Source: Intelligent Mechatronic Systems Inc.