InsureMy, a Calgary-based insurance brokerage, announced the launch of Canada's first Time Based Insurance (TBI) product, designed to save commercial drivers and fleet managers money and time.

As the only Canadian provider of TBI, InsureMy is making substantial insurance savings a reality by marrying traditional insurance products with innovative telematics technology offered by Intelligent Mechatronic Systems (IMS).

Fleet operators and managers can now receive insurance premium refunds based on actual vehicle usage.

The Time Based Insurance Difference: Commercial vehicle operators pay their regular insurance premium based on traditional rating criteria, but with InsureMy’s TBI, they can receive a refund at the end of term for vehicle inactivity. InsureMy’s TBI insurance allows operators to receive a premium refund based on use while providing the convenience of full term coverage.

InsureMy has selected IMS for their commercial solution. IMS’ DriveSync connected car platform measures vehicle usage behavior in real-time, enabling cost-savings for commercial owners using fleet telematics.

"TBI is an ideal product for seasonal and fleet vehicles, 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," stated Hugh McTavish, President of InsureMy Ltd. "As the first Canadian provider of TBI, we are proud to be able to offer this money saving insurance product to commercial vehicle operators and fleet managers," McTavish concluded.

InsureMy is a full service insurance brokerage, emerging as a market leader in the management and delivery of telematics based insurance products. Empowering customers to manage costs, regulate driving performance, and minimize their environmental impact by leveraging technological advances in the collection and practical application of telematics data.