CALGARY, AB – InsureMy Ltd. has launched Canada’s first time-based insurance (TBI) product for commercial transport operations.
The Calgary-based insurance brokerage says it is marrying traditional insurance products with innovative telematics technology to find savings for fleet operators.
“TBI is an ideal product for seasonal and fleet vehicles,” said Hugh McTavish, president of InsureMy Ltd., “making the hassle of removing and reinstating coverage a thing of the past. Commercial vehicle operators enjoy the money and time savings without the paperwork.”
Using the DriveSync telematics platform by Intelligent Mechatronic Systems (IMS), the program allows fleet operators and managers to receive insurance premium refunds based on actual vehicle usage.
“The advancements made by InsureMy in the insurance brokerage space re-iterate the value telematics can bring to fleet owners and managers,” said Lara Ghaddar, senior manager of business development at IMS.
In time-based insurance models, commercial vehicle operators receive a refund at the end of term for vehicle inactivity.
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