OVERLAND PARK, Kan. and WATERLOO, Ontario – March 5, 2014 – Sprint (NYSE: S) today announced that IMS UBI Intelligence is now available through its Integrated Insurance Solution portfolio for auto insurance customers, provided by Intelligent Mechatronic Systems (IMS), a leading connected car company.
“Our auto insurance carriers have been requesting a single source for all their UBI (usage-based insurance) needs,” said Mohamed Nasser, director - M2M Product and Marketing, 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.”
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. IMS UBI Intelligence offers insurers an accurate way to develop a drivers score (policy premium) based on their actual driving behavior, coupled with the ability to discover new, related revenue streams. These advantages are then passed along to consumers who may receive lowered auto insurance costs by choosing to plug a telematics device into their vehicle’s port to measure driving data (distance travelled, vehicle braking and acceleration patterns). Due to the emerging benefits to drivers, Frost & Sullivan forecasts annual growth of the UBI market to be 36% per year, with the U.S. market reaching one million annual activations by 2017.
IMS UBI Intelligence is the premier turnkey solution removing the need for insurers to work with multiple suppliers or partners before implementation. “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, 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 the DriveSync platform, Sprint also plans to bring additional programs to their customers, such as solutions for coaching young drivers, infotainment services, vehicle diagnostics and fleet management solutions.
