Aioi Nissay Dowa Insurance Co. Ltd. (AD), Toyota Financial Services Corp. (TFS) and Toyota Motor Corp. (TMC) announced that their respective U.S. subsidiaries have established a jointly owned telematics car insurance services company. The new business is called Toyota Insurance Management Solutions USA LLC (TIMS), and launched on April 1st.
In Southern California, near TFS U.S. headquarters, TIMS will support the development of telematics car insurance services for Toyota customers, as well as new experiences aimed at more fully satisfying customers by working in unison with dealers and distributors. TIMS will contribute to the development of insurance offerings that benefit consumers – including so-called “pay how you drive” insurance, which is intended to encourage safer driving. TIMS plans to conduct analysis of big data, and conduct relevant marketing and promotion of the new services to help offer broader insurance options to users.