Frequency of engagement is one of the key elements that has been missing from many telematics programs. Forward-looking insurers are increasingly recognizing that frequent, high-value engagement—as often as daily—can be combined with other incentives to accelerate the adoption of telematics programs.
The tools and techniques for successful engagement can be the hidden key to unlocking the full range of opportunities provided by telematics programs and attracting drivers who respond to incentives with genuine value. Through responsive, regular communication with policyholders and the right mix of engagement modes, insurers can break down the barriers to wider adoption of telematics-based UBI programs and increase their market share.
Does your insurance telematics program drive the necessary on-going behavioral modification that results in:
The IMS Engagement Toolset is the industry’s most comprehensive suite of engagement tools and techniques that leverages telematics data and is proven to modify driving behavior and drive desired business outcomes to drive down loss ratio values.
The toolset will be available as a managed service via IMS, or through a self-service portal, where customers can configure, combine and customize multi-layered messaging and rewards campaigns themselves.
IMS’ award-winning solution through which carriers have full control over how rewards are earned, distributed and fulfilled, offering end-to-end digital interaction.
The capability to deploy tailored, data-driven messaging on a one-to-all, one-to-many and even one-to-one basis.
The distribution of static and rich-media educational content, triggered by telematics behavioral data.
The option of setting up leagues, leaderboards, achievement milestones and badge systems to further enrich engagement efforts.
Work with IMS to achieve these similar outcomes as realized through 10 years of B2C experience running a direct to consumer insurance company:
56% of customers check their scores daily and 88% of customers check their scores weekly resulting in 39% less likely to have an accident.
50% of customers check their speed regularly (a leading cause of crashes). 54% check their cornering and braking score regularly.
1-2% premium investment in rewards enabling an estimated 7% COB program benefit. 1.7% premium investment in rewards enabling 3x return on investment through claims loss ratios improvements.
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