TORONTO, Nov. 6, 2013 /CNW/ - Intact Financial Corporation (TSX : IFC) announced today that its affiliates Intact Insurance and belairdirect will launch a telematics-based solution that will allow eligible good drivers in Quebec to save up to 25% on their annual auto insurance premiums based on driving behaviours, in the weeks to come. Similar programs are expected to be rolled out in other jurisdictions in the coming months.
"With the launch of this initiative, Intact Insurance and belairdirect will provide drivers the opportunity to better control the cost of their auto insurance by rewarding them for the quality of their driving," said Louis Gagnon, President and Chief Operating Officer of Intact Financial Corporation. "While the immediate goal is to reward good drivers, ultimately the objective is to encourage better driving behaviours and make our roads safer."
The discount will take into account three specific driving behaviours, namely the braking and acceleration patterns of the drivers as well as the time of day when the vehicle is used. Premiums will not increase as a result of these driving behaviours. Furthermore, the information gathered will not be used to cancel or refuse renewal of a policy.
To take advantage of the discount, drivers will connect a telematics device to their cars that will collect data on their driving behaviours over a period of time to assess the level of their discount. The potential savings on premiums is in addition to other discounts that are already offered. To encourage participation in the program, customers will receive a 5% enrolment discount upon registration.
"Not only is the program voluntary, it is also transparent," said Louis Gagnon. "Protecting the personal information of customers is paramount to us, which is why participants will be provided information on how the data will be collected and how it will be used." Customers will also have the ability to monitor their driving behaviours and potential discount through a secure website or through weekly e-mails. Furthermore, customers may opt out of the program at any time.
About Intact Financial Corporation
Intact Financial Corporation is the largest provider of property and casualty insurance in Canada. Intact offers home, auto and business insurance through Intact Insurance, belairdirect, Grey Power, BrokerLink and Jevco.
SOURCE: Intact Financial Corporation
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