Insuranceciooutlook

Verisk-IMS Partnership Blends Insurance and Telematics Services; Boosts Profitability

By Insurance CIO Outlook | Friday, November 30, 2018

JERSEY CITY, N.J: In a strategic move, Verisk Insurance Solutions, a source of information about property/casualty insurance risk, collaborates with Intelligent Mechatronic Systems (IMS), provider of insurance telematics services. The alliance was formed to bring out a lucrative offer to attract and retain the best car drivers and boost profitability.

“IMS brings tried and tested expertise in end-to-end operations, logistics, customer support, and innovation that insurers can implement today,” says Ben Dailey, Executive Director of U.S. Sales and Business Development at IMS. Talking about the partnership, Dailey adds, “IMS has teamed with Verisk because of its close network of relationships within the property/casualty insurance market and its ability to bring its filed, market-ready Safety Scoring and GeoMetric programs to our insurance telematics technology.”

Jim Levendusky, Vice President of Telematics at Verisk Insurance Solutions, explains that their telematics models are based on detailed actuarial analysis of auto claims losses, which puts policyholder driving behavior in context with real-time driving conditions.

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