Kanetix in the news

First of its kind in Canada, new DriveSmart app by KANETIX.ca grades users' driving skills to help determine if usage-based car Insurance could save them money

Would your auto insurer think you're a safe driver?

TORONTO, Ontario, August 13, 2014 - KANETIX.ca, Canada's premier car insurance comparison company, is challenging drivers to test their skills through a new mobile app that scores their driving, letting them know if they could qualify for auto insurance discounts.

DriveSmart is the first hands-free app in Canada that helps drivers gauge if they would benefit from usage-based insurance (UBI) programs, which collect data from a device typically installed in a driver's vehicle to provide safe drivers with auto insurance discounts of up to 25 per cent. The free app is available for download through the Apple and Android app stores.

"With our app, drivers get a taste of how usage-based insurance works," says Andrew Lo, chief marketing officer at KANETIX. "The app will grade your driving skills similar to how car insurance companies measure drivers for UBI discounts. This will give drivers a sense for how their driving skills stack up, and a chance to improve their skills to maximize their savings."

The KANETIX.ca DriveSmart app grades a driver's driving style on several key components considered in a UBI program: acceleration, braking, and handling. Drivers will be given a score for each, plus tips for improvement if necessary. The app also takes into consideration speed, time of day, and trip duration, which is then factored into the driver's overall score.

The overall score will provide insight to the driver on whether or not joining a usage-based insurance program could help them lower their car insurance premiums.

A recent KANETIX survey revealed that only 18 per cent of Canadians were aware of usage-based insurance, but 62 per cent were willing to use it if it meant saving on auto insurance. An incredible 69 per cent of those surveyed said they would drive more safely if they knew their driving was being monitored.

How the app works

After downloading the app to a smart phone, the app runs in the background and automatically detects when you start driving. It's completely hands-free so there's no need to start or stop the app, or check your phone while driving. In fact, your driving score will be penalized if you do.

Features:

• Hands-free automatic trip start and finish detection
• A progression graph that shows how your scores have evolved
• Customizable time frames to view scores, distance driven, average speed, and more
• Badges earned for good driving techniques
• A leaderboard that lets drivers compete with their friends

Download DriveSmart for iOS here.

Download DriveSmart for Android here.

For more information about the app, visit https://www.kanetix.ca/drivesmart.


--30--

About Kanetix®

Launched in October 1999, Kanetix was Canada's first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.

The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix connect with the provider to purchase or apply for the product over the phone.

Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada's largest insurance brands.

For more information, visit Kanetix.ca or contact:

Nick Hajicosti
416.599.9779 ext. 314
publicrelations@kanetix.ca
Kanetix Ltd.