IMS's telematics insurance solutions for
usage-based insurance (UBI) provide cost-effective and streamlined
access to vehicle and driving data, refining the overall driver
experience and revolutionizing the insurance landscape.
SAN ANTONIO, July 18, 2024 /PRNewswire/ -- Frost &
Sullivan recently researched the telematics insurance industry and,
based on its findings, recognizes IMS with the 2024 North American
Technology Innovation Leadership Award. The company offers a suite
of fully digital UBI solutions that cater to the diverse needs of
insurers and policyholders in today's fast-paced insurance
landscape, where consumers demand faster, fairer underwriting and
slicker claims experiences.
![IMS Award Logo IMS Award Logo](https://mma.prnewswire.com/media/2463755/IMS_Award.jpg)
IMS's solutions allow insurers to refine pricing practices,
improve risk management, streamline claims processing, reduce
operational costs, and enhance overall customer satisfaction and
experience. With over a decade of global expertise in insurance
telematics programs, IMS provides a carrier's policyholders with
detailed driving style feedback with personalized premiums and
provide insurers with invaluable, actionable insights into risk
assessment and mitigation. IMS relentlessly focuses on customer
engagement-led product design and enables drivers to enhance their
driving behavior, fostering a safer and more efficient mobility
ecosystem.
IMS leverages extensive expertise in data analytics,
transforming raw data points into predictive risk scoring and
equipping insurers with the tools to craft advanced UBI products
tailored to individual driving behaviors. The IMS One App™
is a groundbreaking smartphone app framework engineered to redefine
user engagement and experience in telematics insurance. This
versatile platform allows insurers and mobility operators to craft
highly customized mobile app experiences tailored to the unique
needs of their customers. The IMS Wedge™ is an
industry-leading hardware sensor designed to enhance data precision
and functionality within connected claims and UBI programs. The
sensor seamlessly integrates with smartphones, providing insurers
with invaluable insights into driver behavior and enabling more
accurate risk assessment and personalized premium pricing. This
patented mobile app data enhancer optimizes the following:
- Trip detection
- Driver behavior monitoring
- Impact detection
- Claims data recording capabilities
Rabin Dhakal, Best Practices
Research Analyst, Frost & Sullivan, observed, "IMS's commitment
to innovation manifests in a suite of cutting-edge solutions
meticulously designed to revolutionize the telematics claims
market. The company understands the transformative potential
inherent in emerging technologies, driving itself to continuously
push the boundaries of what is possible."
"IMS's success lies in its emphasis on human capital,
championing a culture of inclusivity and continuous improvement
where diverse perspectives converge to fuel innovation. By
future-proofing its technology and fostering a culture of agility,
IMS positions itself for continued growth and success in shaping
the future of telematics insurance," added Dhakal. With its strong
overall performance, IMS earns the 2024 Frost & Sullivan
Technology Innovation Leadership Award.
Each year, Frost & Sullivan presents this award to the
company that has developed a product with innovative features and
functionality that is gaining rapid acceptance in the market. The
award recognizes the quality of the solution and the customer value
enhancements it enables.
Frost & Sullivan Best Practices Awards recognize companies
in various regional and global markets for demonstrating
outstanding achievement and superior performance in leadership,
technological innovation, customer service, and strategic product
development. Industry analysts compare market participants and
measure performance through in-depth interviews, analyses, and
extensive secondary research to identify best practices in the
industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned
for its role in helping investors, corporate leaders, and
governments navigate economic changes and identify disruptive
technologies, Mega Trends, new business models, and companies to
action, resulting in a continuous flow of growth opportunities to
drive future success. Contact us: Start the discussion. Contact us:
Start the discussion.
Contact:
Lindsey Whitaker
P: 1.210.477.8457
E: Lindsey.Whitaker@frost.com
About IMS
IMS is a connected car driving software & data business,
working with insurers globally to create usage-based insurance
products that improve road safety, reduce claims and CO2 emissions
and help make motor insurance more affordable and fairer for
everyone. The company is a leading telematics solution provider
headquartered in the UK and Canada, and has a global portfolio of insurer
clients that leverage its sensor-agnostic IMS DriveSync platform
and draw upon its People Powered Technology™.
Contact:
Andrew Brown-Allan
Executive Vice President, Growth
P: 00 44 7753 743357
E: andrewba@ims.tech
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