The Insurance Brokers Association of Ontario (IBAO) has been lobbying hard for insurers to embrace its broker-focused telematics solution – and has scored a big win with one insurer.
Aviva Canada has selected Quindell as their telematics technology provider on an exclusive basis for the next five years, in conjunction with the IBAO’s for-profit arm, Independent Broker Resources Inc. (IBRI).
“This is outstanding news for our member brokers,” said Randy Carroll, IBAO CEO. “It is no surprise that Aviva is once again leading the way and showing its support for the independent broker distribution channel… I am sure that our brokers will see a positive return from this strategic partnership.”
It was at last year’s annual IBAO conference in Toronto, Ontario, that the IBAO and IBRI announced their entrance into the telematics space.
“We share a common vision regarding the future of auto insurance,” said Greg Somerville, Chief Executive Officer, Aviva Canada. “We firmly believe that telematics and usage-based insurance solutions will benefit our customers as we are able to customize their insurance based on individual driver experience – and reward safe driving behaviour with lower premiums. This initiative is consistent with our strategy of leveraging advanced data analytics and providing digital solutions that enhance value for our customers."
Aviva is one of Canada’s largest property and casualty insurance companies with more than three million customers, 1,700 brokers and 9 per cent market share of the Canadian automobile insurance market.
“Unlike other traditional telematics solutions, the IBRI/Quindell solutions allows broker access to interpret their client’s risk profile and adequately advise them on the most appropriate insurance product available that will match their needs,” said IBAO President, Chris Floyd. “A broker branded solution, the IBRI/Quindell solution will ensure brokers are given every opportunity to leverage and build value for both their current and future customers.”
