US-based insurance company Nationwide has named Insurance & Mobility Solutions (IMS) as the technology provider for its SmartMiles pay-per-mile insurance programmes.
IMS provides connected car data solutions to insurers, mobility operators and governments.
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Under the partnership, IMS will power two of Nationwide’s usage-based insurance programmes.
This includes SmartRide discount programme launched by Nationwide in 2011.
Nationwide vice-president of personal lines product development Teresa Scharn said: “During a time of uncertainty, SmartMiles is successfully giving our customers the ability to control their auto insurance expenses with personalised pricing.
“IMS has enabled us to look at, not only miles-driven, but also to factor in driving behavior – an industry first for policyholders.”
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By GlobalDataIMS and Nationwide began their partnership in 2011, with IMS helping the insurer with the launch of SmartRide.
This programme, which is now available in 46 states and DC, offers personalised feedback for drivers to help them make safe driving decisions.
IMS also provided technology for Nationwide’s SmartMiles which was rolled out last year. This programmed bases insurance charges on miles driven and offers up to a 10% discount for safe driving.
IMS Americas CEO Nino Tarantino said: “IMS is excited to be the technology provider for Nationwide’s SmartMiles consumer offering.
“Our mileage-based product leverages the power of our device-agnostic IMS DriveSync platform – in this case, using our market-leading OBD-II performance to deliver mileage-based driver analysis from policyholder to insurer. Policyholders pay for the miles driven and insurers get accurate vehicle usage intelligence.”
In August this year, Nationwide partnered with insurtech Samsara to offer video telematics to its excess and surplus (E&S) customers with 11 or more commercial trucks.
Earlier in February, the company entered into a partnership with Toyota to launch user-based insurance (UBI) solution for Toyota connected cars.
