EMB Provides Usage Based Insurance Supports Several Top Insurers

EMB, a global property and casualty (P&C) consulting firm, announced recently that the company is now working with seven of the top 25 US-based auto insurers, and two of the top five Canadian insurers, to implement Usage-based Insurance (UBI) programs. EMB, a leading consultant for implementation of UBI programs, also indicated that the company is currently in negotiations to assist other top insurers.

“Naturally, this very exciting news for EMB,” said Robin Harbage, senior consultant for EMB in North America. “There is a growing trend in the automotive insurance segment to adopt UBI products, primarily because it allows them to better mitigate risk, and produce better rates and service options for their customers. The fact EMB now works with a large portion of the top auto insurers in North America speaks volumes for the trust they have in our expertise and products.”

Through the use of improved technology and data analytics, UBI is a type of automobile insurance where the policy and premiums are dependent on vehicle use ???‚?? measured against time, distance and specific driving behaviors. It differs from traditional auto policies that differentiate and reward safe drivers only based on the absence of claims and violations.

In addition to high-level and functional consulting services, the support EMB provides to auto insurers seeking to implement a UBI program includes, aggregating driving behavior data for several insurers to provide more robust models, practical experience analyzing UBI data and market-leading software programs such as EMB Emblem. Emblem produces both sophisticated and practical predictive models to rapidly reveal the underlying patterns in an insurer’s database of policyholders. It is widely recognized as the leading pricing software in the industry.

A white paper article on UBI (by Robin Harbage) can be accessed at: http://www.cdnins.com/competitiveedge/competitive_091109_01.html


About EMB

EMB (www.emb.com) is a leading international consulting firm specializing in property and casualty (P&C) insurance. Its services cover personal insurance, commercial insurance, and reinsurance. EMB offers C-Counsel Business Consulting, Actuarial Consulting, Professional Development, and Marketing Sciences.

Additionally, EMB pioneered the development and use of high-performance actuarial software, which allows businesses to perform tasks that would otherwise be impossible, impractical or hugely time-consuming.

EMB employs more than 300 people around the globe covering North and South America, Asia-Pacific, Europe, the Middle East, and Africa. Our clients include 28 of the top 30 P&C companies in the world.