Telematics: The Fitbit for your Car

Why is it that tracking what we eat results in weight loss? Tracking what we spend saves us money? Tracking how we feel enables us to be happier?

It’s simple – gaining awareness contributes to habit changes.

So what does this have to do with cars? 

Did you know your car is built for a device that can track and transmit information about your driving skills such as hard breaking, speed, distance and the times of day you travel most?   A small removable device that gathers data, can be installed in your vehicle, to rate your insurance premium based on your driving skills rather than demographic generalizations. Inevitably, having this device track your good and bad driving habits will prompt you to be more aware on the road which will help increase safety precautions for you and others on the road. If you think you're a fantastic driver, then this device could mean big savings for you.   

Sharp Insurance Partners with Pembridge Insurance 

As of November 30th, Sharp Insurance is partnering with Pembridge to provide alternative insurance policy options for clients. This includes optional participation in the My_BRIDGE telematics program referred to above. After a 6 month period of tracking driver data, eligible drivers could save up to 30% on auto insurance premiums!

Here are some FAQs on Telematics.

Q. Who will benefit from telematics?
A. You may benefit from the My_BRIDGE program if you:

• Use public transit.
• Work from home.
• Are on a parental leave.
• Do not drive a lot.
• Do not drive during high-traffic hours.
• Maintain safe driving habits.
• Combinations of the above.

Q. What kind of benefits are there?
A. If you sign up for My_BRIDGE, you can expect:

• Customized insurance coverage that fit your lifestyle. For example, typically new drivers have much higher insurance premiums. If data reveals you to be a great driver, your rates will reflect that. 
• Receive a sign-up discount, plus additional discounts if your found to be eligible through telematics data.

Q. Why are some insurance companies offering this?
A. Insurance companies benefit from telematics by:

• Increasing customer satisfaction and loyality 
• Offering innovative products for parents that help them understand their children's driving habits.
• Increasing safe driving habits and decreasing accidents. 

Q. Is there any other data being tracked like GPS locations or accidents?

A. Nope. This specific telematics technology only audits driving skill with certain criteria. 

Q. What else should I know? 

A. The My_BRIDGE program is available now at Sharp Insurance.

Want more info? Give us a call at 1-877-218-2008

Marchella Mafrica

Communications Specialist

marchella@sharpinsurance.ca