The Co-operators&#39 Automobile System to enable custom insurance coverage, reduced premiums

Guelph, Ontario — March 17, 2014 — The Co-operators has unveiled the en-route Auto Plan in Ontario, a program the business says will permit for much more custom-made car insurance and decrease premiums for safe drivers.

The plan is primarily based on usage-based mostly insurance coverage (UBI) engineering created by Intelligent Mechatronic Programs (IMS), and starting April 2, 2014 consumers who indicator up will obtain an automatic 5 % low cost and could earn up to 25 percent off their car insurance coverage, depending on their driving behaviour.

A modest wireless telematics gadget is plugged into a vehicle’;s port to track participating clients’; driving in true time. The selection of collected data includes cases of sudden braking and speedy acceleration, complete distance driven and times of day. The collected information as part of the plan will only be used to reward secure drivers and will never ever end result in premium increases.

“The en-route Car Program is as custom-made as car insurance will get,” says Kathy Bardswick, President and CEO of The Co-operators. “It is an innovative plan that not only allows your premiums to reflect your individual driving behaviour, but also supplies you with reviews you can use to grow to be a safer driver.”

Participating customers can entry their driving data on the web, like routes traveled, mileage, travel time, sudden braking and acceleration, as nicely as coaching ideas, by means of the myenroute Dashboard. The details can be utilized by drivers to increase their driving behaviour, which could in flip result in far more financial savings.

“Our insurance coverage clients understand the value UBI brings to their policyholders since it enables customized car insurance coverage premiums primarily based on individual driving behaviour,” says Dr. Otman Basir, CEO of IMS. “Our UBI Intelligence remedy, powered by the DriveSync linked vehicle platform, is each scalable and expense-efficient empowering insurance coverage consumers to speedily deploy packages for their policyholders.”

The en-route Car Program will be offered in Ontario as of April 2, 2014. On enrolment in the system, a 5 % low cost is utilized automatically. When the policy comes up for renewal, and once the motor vehicle has passed 125 days and one,000 km, the low cost will be recalculated based on the data collected.

For a lot more information on The Co-operators, please pay a visit to them on the internet at The Cooperators.ca. To find out a lot more about Intelligent Mechatronic Programs, please IntelliMec.com.

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