Executive Summary
Motivating drivers to adopt practices that can help reduce accidents and lower claims is an ongoing challenge for insurers. Over the years, many usage-based insurance (UBI) programs have sought to link discounts on premiums to verifiable safe-driving practices while identifying bad drivers and filtering them from the most-desirable policies. This approach has worked to some degree, but many drivers are reluctant to be monitored to qualify for favorable policy terms. At the same time, the rapid digital transformation taking place across a broad swath of businesses is currently reshaping the insurance industry. Insurers that want to be competitive need to provide simple, accessible tools for mobile users, offering a low-pressure path to becoming long-term customers.
Faced with these challenges, Achmea, a large insurance firm with a primarily European presence, decided to venture into the North American market and try a fresh approach. Achmea teamed up with Fairfax to launch a new company, Onlia, starting in Canada with a unique mobile telematics app. To accelerate the product design, development, and launch, Onlia sought an SDK from IMS with the capabilities to capture and score specific driving behaviors, including acceleration, braking, speed, distracted driving, and other factors.
