Toyota Insurance Management Solutions announced a partnership with Nationwide to offer telematics-powered insurance for drivers.
The product called TIMS BrightDrive promises 40 percent savings for car owners, with discount offers based on the driver’s driving behavior. The telematics-based insurance simplifies the purchasing process of customers and at the same time, rewards drivers for good behavior on the road.
The insurance program collects data from the connected vehicle. If the auto insurance policyholder will allow sharing their driving data, the customer can automatically receive a 10 percent initial SmartRide discount upfront.
“The TIMS BrightDrive experience is exciting because it empowers Toyota drivers with driving data from their vehicle to obtain personalized auto insurance geared to how they drive. Additionally, in case of a claim, BrightDrive uses Toyota Genuine Parts, and Toyota Certified Collision Centers when available, enhancing the overall experience,” said TIMS vice president Will Nicklas.
Initially, the new insurance program will be available in Arizona, Ohio, and Texas. Customers can also get the insurance policy at participating dealers and online at BrightDrive.com. Most vehicles are accepted for the policy, permitting that these units have Toyota’s Data Communication Module (DCM) model year from 2018 to the present.
Customers without the DCM technology are also encouraged to participate and earn discounts based on the mobile app program plugged into a device. Nationwide and Toyota plans to expand the scope of the offering and find ways to connect more cars online.
“Nationwide and Toyota believe that customers should benefit from their personal data. We are excited to partner on the introduction of a new solution that will make the process even easier,” said Nationwide CEO Kirt Walker.
Nationwide also revealed in a separate announcement its partnership with Ford on a similar program for the 2020 Ford and Lincoln cars.