|[May 06, 2014]
New Insurance Telematics Dynamic Duo: Modus and MyDrive Announce New Global Partnership
HUNTINGTON BEACH, Calif. & LONDON --(Business Wire)--
The global insurance telematics marketplace has a powerful player today
a world leading end-to-end insurance telematics solution provider, and
the leader in telematics profiling, join forces to deliver a combined
insurance telematics offering. The announcement was made at the opening
of the Insurance Telematics London Conference, a gathering of insurance
companies and technology providers discussing the burgeoning world of
insurance telematics solutions.
As the global marketplace for insurance telematics solutions continues
its rapid growth, insurance providers are navigating an increasingly
confusing landscape of complex solutions. The combination of Modus and
MyDrive brings together two market leaders offering complete end-to-end
solutions with a focus on driving business advantages for insurers while
improving the safe driving habits of the millions of drivers they cover.
"This really is a story of the whole being greater than the sum of its
parts," explains Brandon Johnson, CEO of Modus. "Data is at the heart of
the insurance telematics value proposition. There is no company better
than Modus at designing and deploying the technology to collect accurate
data from millions of drivers. MyDrive offers unparalleled data
analytics capbilities to provide the most detailed and accurate driver
profiles possible and tools to enhance driver safety performance."
For insurers looking to deploy a telematics solution or pilot program
the Modus/MyDrive global partnership offers a myriad of advantages.
Together the companies enable insurance companies to focus on the most
valuable asset of insurance telematics: analyzing, understanding and
using driver data to build new product offerings and market strategies.
With their combined history and experience of delivering end-to-end
solutions, including allied partners that span telematics collection
devices, networking and data storage capabilities, Modus and MyDrive
provide insurers the flexibility to evolve with the market. Insurers can
modify their data analytics and collection as the market situation and
company strategy evolve. They can incorporate new data collection
technologies, integrate with new 3rd party applications and quickly take
advantage of data coming from auto OEMs - all of which can help control
Modus and MyDrive also deliver some of the most advanced, in-depth
driver profiles available anywhere encompassing how vehicles are being
used, who is driving then, how they are being driven and even what
drivers are doing while behind the wheel. This profiling capability
enables insurers to explore new methods of lowering claims cost through
driver-specific training, distracted driving applications,
mentor/coaching programs and more.
"Our partnership with Modus really is about two market leaders coming
together to create the strongest possible, most complete value-based
solution for the insurance telematics market," said Linden Holliday,
CEO, MyDrive. "From device integration and mobile apps to the internal
systems such as inventory management, procurement and customer support
that are paramount to the success or failure of an insurance telematics
solution, together we have covered the entire spectrum of needs for
insurers and the drivers they cover."
About Modus Group
Since 1999, Modus has been developing wireless solutions, application
development and logistics services to corporate enterprise, education,
public service, and general business sectors. Since 2008, Modus has been
a leading full service provider of insurance telematics solutions. Modus
built the first UBI product offering on CDMA networks and is one of the
only Telematics Solution Providers with national, commercial UBI
deployments across all major cellular carriers. Modus is headquartered
in Huntington Beach, California. For more information, see www.moduspowered.com
or follow us on Twitter (News - Alert) @GoModus.
MyDrive are world leaders in telematics profiling, delivering the most
detailed and accurate driver profile. MyDrive's unique solution enables
insurers to fundamentally redefine their assessment of risk. By offering
detailed and engaging driver scoring MyDrive clients increase customer
interactions and enhance the insurer-customer relationship.
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