ITS – Telematics Solutions, leading telematics and data experts, has been chosen by the innovative insurance firm, XS Direct to launch their first black box insurance policy. By facilitating an end to end solution the telematics and data firm will allow the insurer to offer the new policies to existing and new customers immediately.
Having recently launched their innovative ‘ITS Hub’, the telematics experts now provide both end-to-end telematics solutions and agnostic device management data services to enhance current telematics propositions. By using AI and machine learning technology they offer a market-leading solution that streamlines the insurance claims processes with detailed on-demand incident reports, true incident detection and advanced driver intervention solutions.
XS Direct is an innovative personal lines motor insurance operation encompassing an underwriting agency that focuses on selling policies with a high excess (deductible) level. It targets customers who are willing to accept a high excess in return for lower premiums. Since being founded in 2004, the operation has experienced significant growth, writing approximately €100m worth of premiums and employing over 100 employees in Dublin.
By offering a black box insurance solution they now allow their customers to reduce their premiums by building a good driver record using telematics data.
Chris McCann, the XS Direct CEO, says, “We are delighted to launch our first telematics-supported motor insurance product with ITS – Telematics Solutions. With the technology and insight capabilities offered by the device and platform, it was a logical and obvious choice for XS Direct to partner with them.”
On the partnership, ITS commercial director, Adam Gooch, has said: “We are pleased to have agreed this partnership with XS Direct. The insurer has built a reputation on helping a specific group of drivers and we are excited to facilitate an expansion of this offering using our telematics technology and platform.”