’We’ve seen the power of telematics in personal motor insurance and this collaboration brings that capability to commercial lines, where it’s long overdue,’ says vice president
Telematics and connected motor insurance platform IMS has partnered with specialist commercial MGA Kinetiq Underwriting to deliver ”smarter and fairer” insurance for the UK commercial motor market.
As part of this, Kinetiq Underwriting is launching a new product under the Kinetiq.Drive brand, which is designed specifically to accelerate growth in its commercial motor portfolio.
The offering utilises IMS’s telematics technology, combining a smartphone app with a windscreen-mounted IMS Wedge device that records and analyses driving behaviour.
Once paired with the app, the system captures real-time data to support risk-based pricing and claims validation and offers customers access to fairer premiums based on how they drive.
Steve Kerrigan, vice president of growth EMEA at IMS, said: “Kinetiq is bringing something genuinely fresh to market, addressing a traditionally underserved but fast-growing sector with a modern, data-driven solution.
“We’ve seen the power of telematics in personal motor insurance and this collaboration brings that capability to commercial lines, where it’s long overdue.”
‘Potential to reset the bar’
Richard Cross, chief operating officer at Kinetiq, said that the partnership represents a major step forward for specialist commercial motor insurance.
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He explained: “Kinetiq.Drive brings together cutting-edge telematics with data-driven underwriting at a time when the taxi market is ripe for innovation.
”With strong broker distribution and rising demand, we see major opportunities across the wider commercial motor market. Our broker partners are key to this strategy and we’re confident they’ll see strong demand from clients looking for a fairer, tech-enabled insurance solution.”
Kerrigan added: “We believe this partnership has the potential to reset the bar for the sector.
”By combining our IMS One App and Wedge hardware with Kinetiq’s underwriting and distribution strength, we’re bringing MGAs, brokers and drivers into a smarter, more sustainable future.”
With a range of freelance experience, Harriet has contributed to regional news coverage in London and Sheffield, as well as music and entertainment reporting across various publications.View full Profile
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