US-based insurance firm Nationwide has entered into a partnership with Toyota to launch user-based insurance (UBI) solution for Toyota connected cars.
Dubbed TIMS BrightDrive, the new solution collects driving data from the Toyota connected vehicle and rewards customers who drive safely.
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Toyota customers will receive an initial 10% SmartRide participation discount when they purchase an auto insurance policy and share their driving data.
SmartRide is a UBI programme created by Nationwide, which offers personalised feedback to customers and help them make improved driving decisions.
Customers can get up to 40% total discount on auto insurance for 90 days of driving data collected.
Nationwide CEO Kirt Walker said: “Consumer expectations for insurance solutions that are fast, simple and add value continue to grow.
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By GlobalData“Nationwide and Toyota believe that customers should benefit from their personal data.
“We are excited to partner on the introduction of a new solution that will make the process even easier.”
The insurance solution is currently available in Arizona, Ohio, and Texas at participating dealers and online.
The solution is currently designed for Toyota vehicles ranging from 2018 to 2020 models, equipped with Data Communication Module (DCM) technology.
Toyota Insurance Management Solutions (TIMS) vice president Will Nicklas added: “The TIMS BrightDrive experience is exciting because it empowers Toyota drivers with driving data from their vehicle to obtain personalized auto insurance geared to how they drive.
“Additionally, in case of a claim, BrightDrive uses Toyota Genuine Parts, and Toyota Certified Collision Centers when available, enhancing the overall Toyota experience.”
