Transforming insurance pricing while improving driver safety
- Analytics & Modeling - Real Time Analytics
- Functional Applications - Remote Monitoring & Control Systems
- Sensors - Camera / Video Systems
- Finance & Insurance
- Logistics & Transportation
- Driver Performance Monitoring
- Usage-Based Insurance
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
Industrielle Alliance partners with Baseline Telematics, a leading developer of insurance telematics solutions, to help transform the way they price and sell car insurance and design innovative programs to help improve driver safety. A connected device inside the car collects information about driver behavior and driving patterns, which can be viewed in real time via a private portal or through weekly email updates.