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UBI Solutions
Automotive Insurance Telematics

Usage-based insurance (UBI) – also related to telematics insurance, black box insurance and PAYD/PHYD/MHYD (Pay As You Drive / Pay How You Drive / Manage How You Drive) business models – is helping insurance companies to improve risk management and attract more customers.

IMETRIK launched this service less than a year ago, and already has +100,000 monitored vehicles on the roads.

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GPS Solutions
Vehicle Finance Telematics

IMETRIK is the only GPS global provider serving the subprime industry with 3.5G technology, with no renewal fees. This automotive financing solution is a powerful and efficient tool for Buy-Here Pay-Here (BHPH) car dealers, car credit companies and lenders wishing to experience more on-time payments, fewer repossessions and greater profits.

On the roads for over 7 years, our devices have been installed in +700,000 vehicles in the American, Canadian and European markets.

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How it Works?

Automotive Insurance Telematics (UBI)

Improve risk management, based on accurate data and driving behavior.

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available

As an insurance company, you are facing the double-challenge of offering a premium that will attract customers, while minimizing the claim risk.

Your clients are smart, and want to be treated smartly too. That’s why they are looking for a pricing solution, such as dynamic and adapted offers, that will provide them more control and rewards towards their car insurance premium.
IMETRIK's Automotive Insurance Solution enables insurance companies to track and measure clients’ driving patterns in order to provide a usage-based insurance (UBI) program, also known as telematics, black box insurance or PAYD / PHYD / MHYD business models (Pay As You Drive, Pay How You Drive, Manage How You Drive).

It is a win-win for both parties, since the policyholder can control his premium by having a responsible driving behavior, which in turn reduces the reclamation risk for the insurance company.

Most business-critical benefits enabled by UBI:

38% More accurately priced risk
16.9% Changed driver behaviour (improve bad risk)
12.7% Reduced claims ratio and cost
12.7% Improved customer retention
9.9% Attract lower-risk drivers
9.8% Others

According to individuals within the Canadian insurance telematics industry.

Source: Telematics Update Canada 2014 (pdf)

Number of UBI Policies in the World

5.5 millions

Source: PTOLEMUS Consulting Group. The state of Usage Based Insurance today, 2014.

UBI Market Penetration: Predictions by 2020

17.4% 13.7% 4.4%

Source: PTOLEMUS Consulting Group. The state of Usage Based Insurance today, 2014.

Main Benefits

  • 1

    Improve risk management.

  • 2

    Gain market share and new market segments.

  • 3

    Attract drivers that will generate fewer claims.

  • 4

    Build customer loyalty by rewarding your best clients.

  • 5

    Be a key actor in reducing road accidents and impact on environment.

Main Features

  • Kilometers / Mileage Driven

    Monitors the distance travelled by the vehicle, on a specific day, week, month or year. The less your customers drive, the less risk they encounter.

  • Harsh Braking & Sudden Acceleration

    Gets information when the device detects any unusual braking and acceleration of the vehicle.

  • Time of Day

    Gets information about the specific moment of use of the vehicle, so you can provide discounts to customers driving in a less risky period (e.g. day time outside rush hours, and weekends)

Request a Demo Technical Details

Technical Details

  • Once the telematics box is connected to the ODB port of the insured vehicle, it will start gathering driving behavior information. This hardware is entirely designed and manufactured by IMETRIK, and can be quickly installed in a vehicle within one minute by the driver himself - IMETRIK also offers a device that can be installed within 15 minutes by a technician, to gather more information.

  • The device will then communicate with the IMETRIK secured web-based application, using mobile networks. IMETRIK operates its own cellular network infrastructure and offers worldwide coverage, thanks to multiple partnerships with various carriers.

  • Insurance companies then have direct access to vehicle information and statistics through our User Interface or APIs, so they can enhance all their business processes, from actuarial science to marketing.

Vehicle Finance Telematics (GPS)

A global leader in asset management and payment assurance technology.

Also
available

IMETRIK is the only GPS global provider serving the subprime industry with 3.5G technology, with no renewal fees. This automotive financing solution is a powerful and efficient tool for Buy-Here Pay-Here (BHPH) car dealers, car credit companies and lenders wishing to experience more on-time payments, fewer repossessions and greater profits.
 
This exclusive end-to-end car tracking solution improves customers’ payment behavior and enables you to protect your assets, using IMETRIK's Management Platform. This complete and turnkey application provides you with the required information, and lets you manage your vehicles.

Reduce skips by 80%

Cuts delinquencies by 75%

Boosts on-time payments by 70%

Decreases repossessions by 65%

Main Benefits

  • 1

    Maximize profits and cash flow by encouraging on-time payments

  • 2

    Reduce payment skips, delinquencies and repossession costs

  • 3

    Decrease risk by protecting assets in real-time

  • 4

    No renewal fees

  • 5

    Faster data delivery

  • 6

    Projected lifespan of 15 to 20 years

Main Features

  • Payment Reminder

    Alerts driver when payment is overdue, with an audible alarm starting each time the ignition is engaged. This command is a smooth way to remind your customers that it is time to pay.

  • Starter Interrupt

    Remotely disables the ignition of a vehicle when payment skip occurs, and resumes it after payment has been made.

  • Locate

    Geolocates a vehicle for repossession, if warnings and disabling commands are ignored. This command provides you peace of mind, since you can be sure to collect your asset in case of delinquencies.

Download the 3.5G Device - Spec Sheet

Get Started Technical Details

Technical Details

  • The IMETRIK Automotive Financing solution enables you to interact in real-time with a vehicle in which a telematics device is installed. This hardware is entirely designed and manufactured in Canada by IMETRIK, and can be plugged in a vehicle within 15 minutes.

  • The device will then communicate with IMETRIK’s secured web-based application, using mobile networks. IMETRIK operates its own cellular network infrastructure and offers worldwide coverage, thanks to multiple partnerships with various carriers. It is the perfect tool to be used as a car loan tracking solution for vehicle finance.

  • Our reliable and secure web application allows car dealers and car finance companies to seamlessly alert a driver and locate a vehicle, and remotely disable or enable its ignition. You could also use your own dealer management system (DMS) or customer relationship management (CRM) system to interact with vehicles.

  • The collection management system can automate the control of high-risk clients and significantly reduce the rate of skips and repossessions, with functions such as Scheduling and Batch Commands.