By Sarah Schwerdt
On September 5, Competiscan observed its first email communication from Toyota promoting its new usage-based insurance offering to current and future Toyota vehicle owners. Toyota has integrated UBI technology within their vehicles Connect Services platform to increase accuracy and ensure privacy for drivers.
Recipients of the email have the option to enroll and opt-in to UBI, at which point their information is then shared with Toyota’s affiliate, Toyota Insurance Management Solutions. Based on each individual’s driving data, owners could potentially receive a discounted auto policy quote.
This innovative take on UBI/telematics programs may lead to higher adoption rates from consumers, and we could begin seeing other major auto manufacturers roll-out similar options for their customers.
Clients can view the alert here.
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