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Octo Telematics to acquire UBI assets of Willis Towers Watson

Companies to partner on insurance-related products; leveraging Octo’s world-class Next Generation Platform, the acquisition will bring globally recognised scoring & analytical capabilities to serve the global insurance telematics marketplace London, UK (Oct. 11, 2017) – Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, has today announced that it… Read more »

Allstate Canada Launches Usage-Based Insurance Program in Nova Scotia

Drivewise® offers safe drivers the highest savings potential in the industry with up to 30 per cent off insurance premiums Markham, ON (Aug. 14, 2017) – After experiencing great success in the provinces of Alberta and Ontario, Allstate Insurance Company of Canada is pleased to announce the expansion of their Usage-Based Insurance (UBI) program, Drivewise®,… Read more »

Can Insurers Break Through to a New Plane of Digital Engagement with UBI?

Reports indicate that insurers have hit a low plateau in the implementation of consumer engagement strategies using digital technologies. There may be a unique opportunity, in the form of Usage-Based Insurance (UBI), which could allow a transformational breakthrough into the brave, new, digitally-engaged world. We’d appreciate your thoughts. What’s causing the blockage? As reported on… Read more »

Brokers Could be ‘Crucial’ in the Evolution of Usage Based Insurance

At the  Insurance Telematics USA conference in Chicago last week, several themes were prominent.  Taken together, these themes suggest that independent distributors will be a key element in the success of Usage Based Insurance (UBI) in North America.  This will be explored next at the Insurance 2023 Forum in Toronto. Major Themes It’s ‘How’ not… Read more »

Telematics/UBI and Driverless Vehicles: Is There a Battle Royale Forming?

There is an interesting debate involving a couple of possibly competing trends: one is the use of Telematics to support Usage-Based Insurance (UBI); the other is the emergence of Driverless Vehicles.  We think that some of the discussions might be muddling some issues — and, regardless of the outcome, we think there are some clear… Read more »

Pay as You Drive Gains Traction; Insurers Offer Incentives

We have written about the benefits accruing to insurers who adopt Usage-Based Insurance (UBI) schemes, including competitive advantages of better underwriting data and marketing advantages derived from micro segmentation. But why should a driver use it?  A recent announcement in the US market offers instruction on how insurers want to increase the uptake of this… Read more »