TU-Automotive: Wawanesa Insurance to Discuss How UBI Can Produce Happy, Loyal Customers

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TU-Automotive confirmed today that leading Canadian insurance carrier, Wawanesa will join telematics service provider, Octo, to discuss the longevity of discount-only UBI and how surcharging or value-added services could complement the UBI business model. The session will take place at the Insurance Telematics Canada Conference 2015 on 23rd – 24th April in Toronto.

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Wawanesa and Octo are in a fantastic position to give our delegates the view from both sides of the insurance telematics ecosystem.

While it is clear that the prospect of reduced premiums is the primary reason why young Canadian drivers are signing up to UBI policies, more mature audiences may need a greater value proposition to be enticed. Due to current regulations, the application of UBI in Canada is in a very stripped-back form. Its full capability is starting to be realised in the US and Europe where tracking, predictive maintenance, emergency breakdown services are at the top of the value-added services wish-list. These concepts are in their infancy in Canada and the core responsibilities of how such products are managed needs to be worked out between insurer and service provider. The panellist on the session will be Nino Tarantino, CEO at Octo North America and Amanda Evenson, Manager, Product Innovation at Wawanesa.

Jack Palmer, Project Director for the conference commented, “With dongle devices costing upwards of $150, a business model needs to be worked out whereby it becomes viable for insurance carriers to offer consumers a UBI product. While surcharging not permitted in Ontario, other revenue streams need to be found and value-added services could be the missing piece of the puzzle.” He continued, “Wawanesa and Octo are in a fantastic position to give our delegates the view from both sides of the insurance telematics ecosystem”.

The Insurance Telematics Canada 2015 Conference & Exhibition (23rd-24 April 2015, Westin Prince Hotel, Toronto) will unite the emerging technical players of the UBI space with Canada’s biggest insurance carriers and brokers, making this a must-attend event to coincide with the recent rapid expansion of the industry.

For the conference program and speaker line-up, access the e-brochure at: http://1.tu-auto.com/LP=561 or contact the TU-Automotive team at insurancecanada@tu-auto.com

For all the latest updates from Insurance Telematics Canada 2015, visit: http://www.tu-auto.com/insurance-telematics-canada/

Register by March 27 via the secure link below to take advantage of a $100 saving on all conference passes: http://www.tu-auto.com/insurance-telematics-canada/register.php

About TU-Automotive:
Tracking Automotive Technology: TU-Automotive is the reference point and communications hub for the evolving automotive technology segment as it converges with consumer electronics, mobile and IoT to re-define connectivity, mobility and autonomous use-cases.

Jack Palmer
Project Director | TU-Automotive
7-9 Fashion Street, London, E1 6PX, UK
T: +44 (0) 20 7375 7572 (Global)/1 800 814 3459 ext 7572 (USA Toll Free)

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