While telematics hasn’t taken off industry-wide the way many were predicting it would five years ago, Intact Insurance is one of the carriers that’s had continued success with the technology. “At Intact, we’ve been leveraging UBI (usage-based insurance) or telematics since 2013,” Chris Reid, vice-president of digital distribution with Intact, told Canadian Insurance Top Broker in a recent phone interview. “We were one of the first to market, and the first to market to offer telematics in the broker channel.” The insurer recently launched the latest version of its mobile telematics platform, which it calls My Driving Discount. Customers who enrol in the program receive a 5% discount off the bat, and can save as much as 30% on their premium depending on their driving habits (previously, Intact offered a maximum discount of 25%). Drivers can also earn discounts more quickly with the new program. Previously, they’d be eligible for a discount after a year of driving, but now, discounts...
