Nationwide Teams Up With Toyota, Offers Telematics-Based Insurance

  Tuesday, February 25th, 2020 Source: Insurance Business

Nationwide has announced a partnership with Toyota Insurance Management Solutions (TIMS) to launch a new telematics-powered insurance solution that will lead to more savings for customers.

The two companies are launching TIMS BrightDrive, an insurance program that uses driving data collected from participating connected vehicles to offer customers a discount based on their driving behavior.

Toyota customers with connected vehicles who purchase an auto insurance policy with Nationwide can opt into the program — when they do, they automatically receive an initial 10% SmartDrive participation discount.

Participants in the program can earn another discount — as much as 40% — if they stay with the program as it collects 90 days’ worth of driving data.

“Consumer expectations for insurance solutions that are fast, simple and add value continue to grow,” said Nationwide CEO Kirt Walker. “Nationwide and Toyota believe that customers should benefit from their personal data."

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