Specialist schemes broker Safely Insured has appointed telematics and connected insurance technology company IMS to deliver a smartphone app-based insurance proposition for its novice driver motor product.

The decision will see the Hertfordshire-based broker replace their existing black box technology from another provider to a custom-configured smartphone app via the IMS One App mobile telematics framework, paired with the IMS Wedge, a self-install, IoT beacon that sits in the windscreen and tethers to the customer’s smartphone via Bluetooth to enhance the collection of journey data and assist with collision detection.

Jae Pearse, director of personal lines insurance at Safely Insured, said: “The quality of the IMS One App experience will provide our end users with a highly engaging product that also gives our insurers the data insights and underwriting protection they require.”

“While a number of insurers have stepped away from young driver insurance in recent months, we remain fully committed to this market and are confident that our new approach will deliver measured, profitable growth at a time when this category of driver is under-served by our industry.”

Jae explained that the IMS One App provides a clear and precise mechanism to score, influence and change driver behaviour, and, combined with Safely Insured’s own risk management processes, enables his customer care team to engage with and actively manage customers, sitting alongside their own intervention models.

“10% of young drivers are great risks, and we want them all on our book; a further 80% of young drivers can and will improve, with coaching and the occasional nudge from us, to become good drivers. IMS’s focus on engagement via its smartphone telematics technology will greatly assist us in this respect.”

Steve Kerrigan, IMS VP Growth for the UK, said: “This is a fantastic opportunity for IMS to work with one of the most progressive brokers in the market. Safely Insured has a reputation for looking after their customers and delivering great results for their insurer partners.”

“Their move from black boxes to app-based telematics underlines their proactive approach, in particular their active management and analysis of the risk information, and we’re really excited to be a part of their future focus on this market. They’re also going be exposed to new, critical insights – like smartphone distraction monitoring – that you simply can’t get from black box tech.”

Steve added: “What sets Safely Insured apart from many of their peers is that they do what any good broker should do: they actually use the data and engage directly with customers both on the phone and by text when they need to.”

“Working with us, Safely Insured will have all the tools they need to collect telematics data at low cost, deploy it effectively to reduce accident frequency and severity, and provide capacity providers with the evidence they need to know that the approach is working.”

Jae Pearse concluded: “With premiums on the rise, we believe this is a great time to deliver positive returns for our insurers through our new & young driver product. IMS has the tech, expertise and support we need to give our customers a fantastic experience, and the data insights that will keep our underwriters happy too.”

Interested insurers and media have an opportunity to further engage IMS in-person at Insurance Innovators Summit UK taking place 15-16 November 2023: https://insurance-innovators.com/events/summit