Waterloo, Ont. based Intelligent Mechatronic Systems (IMS) will power an on-demand insurance telematics program for Amica Mutual Insurance, a top 25 auto insurer in the U.S.
Available to policyholders this summer, the program reflects surging consumer interest in on-demand products and services.
According to the Harvard Business Review, the on-demand economy is attracting more than 22.4 million consumers annually. That’s worth $57.6 billion in spending.
The Amica program will use the IMS DriveSync connected car platform to deliver on-demand digital insurance products to consumers. It’s an innovative take on telematics-based insurance, says Ben Dailey, vice president, U.S. sales at IMS.
“Top global insurers and businesses such as Amica, are finding it’s easy to take advantage of IMS’ platform-based telematics capabilities,” he says. “They can introduce flexible and innovative programs that deliver unique and engaging experiences demanded by policyholders, which also help better control claims ratios and costs for the insurer.”
Amica will provide an update on its program, first launched in Oregon, later this summer.
