Modus for Insurance
Because Not All Drivers Are Created Equal
Target The Best Drivers For Your Program
With the most innovative, scalable and flexible connected car platform available, Modus delivers actionable driver performance data that enables you to identify and characterize more accurate risk profiles, and improve pricing and profitability across your entire portfolio.
Benefits
Smarter Acquisition and Retention
Modus provides the most reliable, predictive data available to target, attract and retain drivers with pricing based on how drivers actually drive.
We are Experts at Running UBI Programs
We will guide you each step of the way:
- Quality Assurance
- Dedicated Modus Account Manager
- Production Support
- Monitoring
- Deployment
Published Benefits of Telematics Programs
Towers Watson*
- 30% loss ratio improvement
- Largest UBI underwriter in the US
Allianz**
- 15% improvement in combined ratio
- 43% improvement in lapse ratio
- 83% improvement in cross-selling ratio
Ageas**
- 20% drop in crashes involving young drivers
- Average claims up to 30% lower
- In general, telematics users have fewer serious accidents
Zurich**
- 20% reduction in collisions
- Up to 10% reduction in operating costs
- Up to 11% reduction in fuel consumption
- 66.4% reduction in annualized accident rate for damage claims
- 59% reduction in cost per vehicle for the damage claims
- 72.2% reduction in annualized accident rate for 3rd party claims
- 83.1% reduction in cost per vehicle for 3rd party claims
*Source: TowersWatson, “The Future Insurance Data and the Customer Relationship”, Connected Car Insurance USA 2016, Chicago
**Source: SOA Actuarial Seminar, Long Term, Auto, General Insurance; Seoul, South Korea; Nov. 16, 2015; David Dou, FCAS
Why Modus?
Deploy with Ease
Deploy Modus efficiently to all of your customers.
Deliver More Value
Differentiate your brand and delight your customers with leading technology.
Customize to Fit
Use Modus out of the box, or tailor it to your exact specifications.
Minimize Risk
Reinforce and incentivize good driving behavior to reduce portfolio risk.
Build for the Future
Invest in a platform designed to adapt to future technology.
Gain Accurate, Reliable Insight
Collect and analyze behavioral data to uncover portfolio insights and better understand risk.
Skilled in Operations & Logistics Since 2002
You’re connected car insurance solution is in expert hands:
- Extensive Quality Control Testing
- Program Management Tools
- Web Services Integration
- Highly Scalable Data Hosting
- Customized Analytics
- Key Performance Indicators
Flexible, Fast Implementation
With an instantly scalable cloud-based platform, open architecture and indefinite data maintenance, Modus is able to deploy your program quickly in multiple geographies simultaneously.
End-to-End Solution
What more could you ask for?
Don’t Just Take Our Word for It; Industry Experts Agree UBI Helps Insurers Target Safer & More Profitable Risks
Property Casualty 360 – Auto claims face a bumpy road ahead
Neilsen – UBI is gaining traction among millennials
IHS Markit – UBI Expected to Grow to 142 Million Subscribers Globally by 2023
Edmunds – How to Tell if Usage-Based Car Insurance is Right for You
Property Casualty 360 – Designing a UBI program for the ‘average Joe’ – and anyone else
Insurance Networking News – Insurers Should Take a Demographic Approach to UBI: LexisNexis
JD Powers – Customers Value First Notification of Loss as a Service
Insurance Journal – Usage-Based Auto Insurance, Slow at First, Picking up Speed
National Association of Insurance Commissioners – UBI and Vehicle Telematics: Insurance Market & Regulatory Implications
National Association of Insurance Commissioners – UBI Poised for Rapid Growth in the U.S.
Learn about Modus for Insurance
Discover how insurers rely on Modus to better understand their customers and portfolio, reduce overall risk, deliver more value, and incorporate actual behavioral data, ratings, and risk into pricing.
