Exigen Insurance Solutions, a provider of insurance coresystems, and The Evogi Group, a vehicle telematics solutionsprovider, announced at ACORD LOMA Insurance SystemsForum a partnership to offer complete usage-basedinsurance (UBI) and pay-as-you-drive (PAYD) platforms toinsurers.

The collaboration between the two companies provides insurersfull policy administration, billing, claims, and account managementfor personal and commercial auto UBI products using telematics andGPS technology. 

The solutions brought together by these two companies aredesigned to solve important challenges faced by insurers enteringthis market. The solutions are turn-key, satisfying all technologyintegration, data, actuarial, regulatory, and customercommunicationsrequirements.     

Exigen has a market-ready solution for the pay-as-you-driveautomobile insurance market. The Exigen PAYD solutionenables insurers to implement a usage-based pricing auto insuranceproduct with no impact to existing applications and businessprocesses. Exigen PAYD can be delivered as software-as-a-service(SaaS) or as a custom implementation.

The Evogi Group's Intelligent Insurance solution delivers a UBIsolution that capitalizes on insurance expertise in agencyoperations, insurer operations, modeling, and driverscoring. The solutions feature flexible architecture andtelematics platforms that utilize Evogi's or third-party devices toprovide location-based intelligence that enables, reporting andinteraction with vehicles.

"The pace is quickening for entry to the usage-based auto insurance market. Insurers need to createinnovative product offerings or risk losing customers tocompetitors," says Fazi Zand, vice president, marketing andbusiness development, Exigen InsuranceSolutions. "However, usage-based insurance presents newforms of handling and managing realtime data. Furthermore,the integration of telematics and sensor technologies representsnew challenges for existing systems and IT resources. Theunion of Exigen PAYD and Evogi's UBI solution provides acomplete deployment alternative." 

"Telematics when tied to usage-based insurance provides insurersa host of opportunities to provide better policy pricing, risk management, claims reduction, and on-board services," says BobNeeser, senior vice president, sales and marketing, The EvogiGroup.