One-stop shopping for a car and auto insurance isn’t new, but it’s definitely growing. Toyota has stepped up the game by opening its first national headquarters for Toyota Insurance Management Solutions (TIMS) in Plano.
Since 2016, TIMS has operated as an exclusive, independent, in-house agency offering Toyota customers a personalized way to compare and buy policies online. Its services are powered by Insurify, an insure tech with an AI-powered comparison platform.
An important TIMS offering: the ability to subscribe to allow usage-based data tracking of Toyota’s connected vehicles. Discounts can be as high as 40% for safe drivers.
As vehicles become more connected, usage-based insurance (UBI) should be a growing trend. According to WalletHub19 leading insurance companies now offer UBI, which tracks drivers speed, braking and acceleration. UBI data is collected directly from a car’s telematics system or through a device connected to the diagnostic port.
TIMS’s new headquarters will support innovation and support future growth, the agency said in a statement. Another reason for the opening? TIMS is more than your Rav4. The agency has expanded to include insurance products for home, renters, RVs and even pets.
“The opening of TIMS ‘first dedicated office … reflects the tremendous growth we have achieved in our first five years,” said Robert Spencer, VP, finance and administration, in the statement. “There are certainly many benefits to working as a start-up. But even as we embrace virtual work, it’s also helpful to have our own space to come together for collaboration when needed. “
Plano Mayor Harry LaRosiliere helped cut the ribbon at the new TIMS headquarters in Plano’s Legacy West.
“This marks another exciting milestone in our relationship with Toyota,” LaRosiliere said in the statement. “It is further evidence of the deep-seated commitment we have to help each other grow and prosper.” LaRosiliere noted that Toyota’s footprint in Plano now includes Toyota Motor North America, Toyota Financial Services and Toyota Connected.
TIMS ‘COO, Will Nicklas, says the agency’s relationship with auto dealers will continue to grow.
“TIMS completes the Toyota ownership experience by providing simple, convenient ways to purchase and purchase insurance for all Toyota models, new and used, and coverage for other vehicles,” said Nicklas. “Looking ahead, TIMS is expanding distribution – both digitally and through select dealers – and we will continue to innovate new products to provide Toyota customers with personalized auto insurance tailored to their unique needs.”