Arity, a mobility and data analytics company, is partnering with Connected Analytics Service (CAS), a Toyota affiliate, to provide driving data from connected vehicles to auto insurance carriers to enable policyholder to access usage-based auto insurance (UBI) products.
Arity’s platform offers insurance carriers unsurpassed data insights for better pricing segmentation, giving them the tools to improve profitability, growth, and retention. CAS’s platform currently provides direct access to national carriers seeking to leverage vehicle telematics data.
The partnership with CAS brings connected-car data from Toyota and Lexus vehicles to the Arity platform.
Toyota and Lexus connected-car drivers who opt-in to share their data with insurers will gain access to UBI products, with greater personalisation, transparency, and control on what they pay for auto insurance. CAS’ partnership with Arity will also allow these drivers to use their data across even more insurers throughout the country.
Joe Guerin, general manager of Connected Analytic Services, said, “Our vision is to provide consumers as much value from their vehicle and driving data as possible, including greater choice and control over what they pay for auto insurance. Working with Arity and their solutions, we can expand our ability to assist insurance carriers in meeting the needs of drivers.”
Gary Hallgren, president of Arity, added, “Working with CAS serves as a great step forward in our vision to connect with every driver so we can offer carriers our most predictive measure of driver risk yet. Our unique ability to identify and quantify risky driving behaviour – coupled with the largest US data set for actual driving risk – gives carriers an unparalleled competitive advantage, while giving consumers the transparency and control they deserve and desire.”
Earlier this year, Admiral, a car insurance provider in the UK, extended its partnership with Cambridge Mobile Telematics (CMT), to launch LittleBox Pod, a new telematics offering that can lower insurance prices for drivers of all ages.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
