TORONTO, Oct. 21, 2014 /CNW/ - The Insurance Brokers Association of Ontario (IBAO) is pleased with the recent announcement that a major insurer is committed to move forward with a telematics solution that supports the broker channel.
Today, one of Canada's largest insurers, Aviva Canada, has committed to the IBRI/Quindell Telematics Solution to execute their telematics offerings. Aviva Canada has selected Quindell as their telematics technology provider on an exclusive basis for the next five years. This move strengthens Aviva's position as a strong supporter of the broker channel, with a desire to offer best in class insurance products, technology, and efficient broker workflow for the industry.
At the 2013 Annual IBAO conference last year in Toronto, Ontario, IBAO and its for-profit arm, Independent Broker Resources Inc. (IBRI) proudly announced their entrance into the telematics space.
Their objective was clear:
"To implement an economically sustainable Telematics Solution, in conjunction with its business partners, that will support the independent Broker distribution channel and strengthen and maintain the consumer broker relationship."
This recent announcement supports IBAO's objective and will go a long way to supporting the independent broker distribution channel in Ontario. "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. With Aviva's leadership in strategic thinking and entrepreneurial development combined with Quindell Plc's expertise and depth of knowledge, I am sure that our brokers will see a positive return from this strategic partnership."
"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% 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," adds 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."
The Insurance Brokers Association of Ontario (IBAO) is a 'not for profit' association that represents and serves the interests of over 12,000 independent Property & Casualty Insurance Brokers in the Province of Ontario. For information about IBAO, visit www.ibao.org to receive timely news and information updates. You can also follow IBAO on Twitter or join the IBAO Facebook Fan Page.
SOURCE: Insurance Brokers Association of Ontario (IBAO)
For further information: or for interview opportunities, please contact: Emily Reid, IBAO Public Relations, Telephone: 613-233-8906, Email: [email protected]