One-stop shopping for a car and car insurance isn’t new, but it’s definitely growing. Toyota just kicked it up a notch by opening its first national HQ for Toyota Insurance Management Solutions (TIMS) in Plano.
TIMS has operated since 2016 as an exclusive, independent, in-house agency, giving Toyota customers a personalized way to compare and buy polices online. Its services are powered by Insurify, an insuretech with an AI-powered comparison platform.
A key TIMS offering: the chance to opt in to allow usage-based data tracking from Toyota’s connected vehicles. For safe drivers, discounts can be as high as 40 percent.
As vehicles get more and more connected, usage-based insurance (UBI) should be a growing trend. According to WalletHub, 19 leading insurance companies now offer UBI, tracking drivers’ speed, braking, and acceleration. UBI data is collected directly from a car’s telematics system or via a device plugged into its diagnostic port.
TIMS’s new HQ will bolster innovation and support future growth, the agency said in a statement. Another reason for the opening? TIMS covers more than your Rav4. The agency has expanded to offer insurance products for home, renters, RVs, even pets.
“The opening of TIMS’ first dedicated office…reflects the tremendous growth we’ve achieved in our first five years,” said Robert Spencer, VP, finance, and administration, in the statement. “There are certainly many benefits to operating like a start-up. But even as we embrace virtual work, it’s also beneficial to have our own space to come together for collaboration when appropriate.”
Plano Mayor Harry LaRosiliere helped cut the ribbon inside the new TIMS HQ, located in Plano’s Legacy West.
“This marks another exciting milestone in our relationship with Toyota,” LaRosiliere said in the statement. “It’s further evidence of the deep-rooted 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 shop for and purchase insurance for all Toyota models, new and pre-owned, as well as coverage for other vehicles,” Nicklas said. “Looking ahead, TIMS is expanding distribution—both digitally as well as through select dealers—and we will continue to innovate new products, providing Toyota customers with personalized auto insurance tailored to their unique needs.”