Alberta Motor Association Insurance Company Selects IMS for Pay-As-You-Go Program
April 29 2024 - 6:30AM
The Alberta Motor Association Insurance Company (AMAIC), a Canadian
insurer serving the province of Alberta, part of the Alberta
Motor Association (AMA), has selected IMS, a global leader in
insurance telematics and usage-based insurance (UBI) solutions, as
the technology provider for the company’s new AMA MyPace
pay-as-you-go auto insurance program.
Work-from-home and remote working has been galvanized into North
American culture post-pandemic, and consumers are looking for
insurance options to meet their changing needs. J.D. Power research
shows consumers are increasingly interested in UBI
and mileage-based telematics programs that allow insurers to
offer an attractive option for cost-conscious low-mileage
vehicles.
“Using IMS’s Mileage UBI technology, we are giving AMA MyPace
policyholders more control over their monthly bill,” said James
Setch, Vice President, Underwriting, Rating and Product at AMAIC.
“The product could provide significant savings for hybrid workers,
transit commuters, retirees, households with more vehicles than
people, and other instances where a vehicle isn’t driven often. The
technology allows us to offer an easy and affordable solution for
low mileage vehicles and the flexibility for Albertans to choose
insurance suited to their lifestyle.”
IMS’s new PAYD (Pay-as-you-drive) technology fuses the proven
engagement of One App and the accuracy of OBD-II to deliver the
future of mileage-based programs. Specifically, AMA MyPace will
leverage IMS’s new Mileage UBI technology and the IMS One App™
interface to allow AMAIC policyholders to see the distance their
vehicle has been driven and their monthly premium based on that
distance.
“AMAIC’s implementation of the IMS Mileage UBI product in their
AMA MyPace program will help AMAIC immediately offer more
cost-effective insurance options to their policyholders and
increase customer satisfaction as well,” said David Lukens, SVP
North America, IMS. “This marks the second telematics program IMS
and AMAIC have collaborated on together, with the first being the
behavioural-based UBI program, AMA MyRide.”
IMS’s Mileage UBI technology can also offer features and
functionality designed to motivate safe driving behaviour inherent
to the IMS One App™ mobile telematics experience, such as coaching
and rewards and behavioural and distracted driving detection can be
implemented to meet the needs of the program.
For more information on AMA MyPace, visit: AMAMyPace.caFor more
information on the IMS Mileage UBI offering, visit:
ims.tech/mileage/
# # #About IMSIMS is a vehicle and driving
data business, delivering enterprise solutions to global insurers,
mobility operators and governments. The IMS DriveSync® platform
provides the capability for customers to improve their approach to
pricing, customer engagement, risk management and claims handling
by leveraging telematics data from any source – smartphone apps,
aftermarket hardware and OEM embedded units. The company, with
offices across the UK, Europe, and North America, has analyzed
over 15 billion driving miles and its algorithms are fed by
trillions of data points each day.For more info
visit: https://ims.tech/
About Alberta Motor AssociationThe Alberta Motor
Association (AMA) is one of the largest membership organizations in
Alberta, representing a million members provincewide. As a leading
advocate for traffic safety, travel, consumer protection, and crime
prevention, AMA helps protect the things that matter most, cares
for and participates in the communities we serve, and represents
our members’ needs to industry and government. For more
information, visit: https://ama.ab.ca/
- AMA MyPace pay-as-you-go auto insurance program
David Lukens
IMS
470-357-9867
dlukens@ims.tech