ITS & Principal Team Up On Telematics

Insurers are surrounded by customer data, but it's how you sift the wheat from the chaff that counts.

ITS Telematics Solutions (ITS) and XS Direct Insurance are delighted to announce their new partnership with Principal Insurance, the niche insurance broker, to facilitate a market leading telematics insurance product for the national broker to add to their portfolio. Using ITS’s proprietary technology and the latest innovations in connected data services including pro-active E-FNOL (First Notification Of Loss), combined with XS Direct’s vast experience in this sector and capability to underwrite such policies, Principal Insurance will now be offering a cutting-edge telematics solution to their customers.

ITS has been working with XS Direct since 2019 to facilitate leading telematics insurance products as part of their unique offering to drivers with limited or no driving history. ITS recently launched the ITS Hub changing the way telematics data is integrated and managed, by developing a device-agnostic system that can import data from any device whilst offering leading services such as a pro-active E-FNOL solution that delivers detailed claims report within minutes of an incident occurring. XS Direct has carved a niche in the car insurance sector by offering drivers who struggle to gain traditional cover a unique and cheaper solution, in exchange for sharing the risk of a claim.

Established in 2011, Principal Insurance is a fast-growing specialist insurance group offering an extensive range of motorcycle, car, van, home, courier and commercial policies. A top 50 personal lines broker, Principal will now be offering a market leading telematics solution to the 40,000 policyholders it already serves in the UK.

Jurgens Els, Director at ITS Telematics Solution, said, “We are delighted to be able to expand our telematics solution to Principal Insurance through our existing partnership with XS Direct insurance. The new offering will allow Principal’s customers to take control of their driving data and benefit from our market leading connected services.

The ITS team are experts at managing driving data and our advanced connected services allow us to offer insurance firms a cutting-edge telematics product that benefits their customers, whilst our E-FNOL solution also helps them to control claims costs.”

Dave Bowcock, Managing Director at Principal Insurance welcomed the deal, saying: “This is a crucial development for Principal as telematics becomes ever more embedded as a retail proposition. We’ve been impressed with the multi-device flexibility and capabilities of the ITS platform, which will make our motor and motorcycle products even more compelling and further enhance the customer experience.”

Chris McCann, Managing Director at XS Direct, added, “Having worked with ITS since 2019 we have seen first-hand the benefits of offering a telematics solution to our customer base, and we are excited to be able to expand this service to customers of Principal Insurance.

At XS Direct we have shown that it is possible to insure drivers with minimal or no driver history by offering a unique solution, and by embracing technology to help our customers benefit and prove they are safe and responsible drivers.”

About alastair walker 6850 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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