Waterloo, Ontario — Insurance & Mobility Solutions (IMS), part of Trak Global Group (TGG), has launched a new telematics solution that transforms customers’ collected driving data into an analysis that can positively impact the policyholder’s experience and an organization’s overall claims costs, according to the company.
IMS says its Connected Claims telematics solution provides an economically-sound approach to augment existing claims operation with driving data. Telemetry data is collected from policyholders via a hybrid combination of a smartphone app optimized for safe driving engagement and rewards. In turn, insurers are provided with a claims portal that enables access to minute-by-minute details of the driving journey, including moments preceding accidents, and second-by-second data of the impact itself.
IMS says its telematics solution goes beyond accident detection, leveraging telematics data to reduce claims costs in other areas: liability and handling—which together deliver 80 percent of the overall benefit to an organization.
“[The solution] offers reliable collision notiﬁcations, but more importantly, it gives a clear picture of the circumstances of a collision, enabling faster settlement of liability claims and reductions in claims handling shelf-life,” said Ed Rochfort, chief product officer for IMS. It’s a win-win set of outcomes for insurers and policyholders alike.”
For insurers seeking additional details, click here to register for the IMS claims technology presentation on June 24 at 2:15 p.m. EDT.