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Pay-per-Mile Insurance solution

Mileage-based insurance programs using telematics technology and data — also known as Pay-Per-Mile insurance solutions or PAYD enables global insurers to seek smarter, fairer ways to engage low-mileage drivers, and assess risk.

The World Has Changed

The post-pandemic landscape brought about a rapid shift in behavioral changes, driven by the adoption of more flexible work-from-home and hybrid policies. The net effect – a surge in popularity of usage-based and mileage-based insurance programs as policyholders demand more control over their insurance and the premiums they pay.

However, the majority of mileage-based programs in market (PAYD) are limited and only track actual mileage traveled – but do not factor in safe driving behaviors including, distracted driving.

Mileage-based insurance programs, often referred to as Pay-As-You-Drive (PAYD), are regaining traction with insurers who are looking not only to compete, but thrive, in developing innovative insurance telematics offerings in a mature market.

Benefits

Mileage-Based Insurance Solutions Powered by Telematics offer auto insurers a number of benefits, including:

  • Quick to implement

  • Offers more transparency

  • Provides policyholders with a low-cost and personalized insurance option

  • Increase in policyholder retention

  • Encourages safer driving through behavior-based communication, coaching, and rewards

Introducing our IMS Mileage UBI Solution

Our mileage usage-based insurance offering provides a fully immersive policyholder experience that leverages our IMS One AppTM mobile telematics platform – the industry-leading app solution for engaging policyholders and proven to influence policyholder driving behavior.

Further, to support accurate mileage capture, it provides two optional approach:

  1. Works with plug & play OBD-II hardware
  2. Via trip capture data provided by a third party for hardware-less approach.

Only IMS provides the first mileage-based UBI product offering with a user-centric focus to enable accurate mileage capture with the added-value of engagement, including:

  • Driving behavior and distraction coaching

  • Rewards for safe driving behavior

Features & Benefits

Features

  • Full trip collection accuracy – no mileage-loss
  • Frictionless experience – no Bluetooth pairing required
  • Full engagement suite of optional features – coaching, rewards, right-time messaging
  • App claims data – test & learn by correlating mileage driven to relative risk using actual claims data

Benefits

  • Only UBI offering on the market proven to improve driving behavior and your claims loss ratio
  • Solves profitability challenges in high premium, low mileage segment
  • Offers an affordable solution for low mileage drivers – attractive option for agents to offer policyholders
  • Addresses affordability challenges via policy options
  • New customer acquisition – attract low mileage/low risk drivers away from competitors

Mileage-based Programs (also referenced as):

  • PAYG or Pay as you Go
  • PAYD or Pay as you Drive
  • On-demand
  • Pre-paid
  • Post-paid
Solutions & Product

IMS Mileage UBI Offering

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infographic

Why data-driven, mileage-based insurance programs could become the ‘new norm’

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whitepaper

Comparing Smartphone, Tag, OBD, Black Box, and OEM Embedded Devices

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whitepaper

Mobile Telematics Essentials: a Fundamental Guide for Auto Insurers

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Explore our Mileage-Based (PAYD) Insurance Solution

Contact us to request for more information