Acquisition will provide usage-based insurance offering to USAA members.
USAA announced that it plans to acquire insurtech company Noblr, Inc. to offer usage-based insurance (UBI) to its members. The acquisition complements USAA’s behavior-based insurance (BBI) program, SafePilot, that grew 200% in 2020. Nearly half of new policyholders in the states where SafePilot is available opt in to the program.
The Noblr, Inc. UBI program will be separate from SafePilot, which primarily uses behavioral data. UBI and BBI programs incentivize drivers to examine their driving habits, ultimately creating safer roadways while offering savings. Both programs will be optional for members.