e-Volve UBI™

InformINS has successfully implemented production auto insurance UBI. This includes provisioning integration with UBI Vendor and automated processing (including Out of Sequence Endorsement processing) where the discounts are applied based on driving habit.
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e-Volve UBI™

How UBI Works For Us

It seems these days you cannot visit an insurance trade site without reading an article about UBI. Even mainstream media like WSJ or NYT covers it frequently and often refer to it as disruptive technology.

Is it really disruptive? And possibly for whom?
So what keeps the UBI hype alive? Smartphone based apps! Smartphones are now the norm and with the increasing use of location based Apps consumers will become increasingly more comfortable with using a location based UBI App provided they understand what data the app is capturing and have the ability to manage the app. Along with the ever improving smart phones themselves UBI Apps are steadily being tested and improved with the data analysis ability to understand with virtual certainty the difference of automobile driving movements from non-driving activities such as biking, running/walkin, trains etc. and even to go so far as discerning that the person is a passenger vs a driver of a vehicle. After enough UBI data is collected each driver is basically creating a type of driving fingerprint that is quite unique to that individual driver.

Currently, Carrier/MGA implementation of UBI is minimal, but we do expect that as more the bigger carriers implement UBI features in the near future with the ability to offer discounts of up to 30%, smaller carriers and MGA’s will have no choice, but to follow.

“While user-based car insurance makes up less than 5% of the market, the share is expected to soar to 26% in the U.S. and 38% in the U.K. by 2020, according to the November study from Roland Berger Strategy Consultants.”

e-Volve UBI™ is available as a standalone system or as part of the e-Volve Suite™ and can be integrated with legacy systems and third party applications.