State Farm and Ford announced that they have entered into an agreement to share connected vehicle telematics data for usage-based insurance (UBI) products. State Farm customers with eligible connected Ford vehicles will be able to opt-in to Drive Safe & Save, the voluntary usage-based insurance (UBI) program by State Farm that uses vehicle telematics to […]
Volkswagen Car-Net selects CCC Information Services for Insurance Telematics Services
CCC Information Services Inc. and Volkswagen Car-Net announced today that CCC has become the automaker’s exclusive provider of insurance telematics services for the newest generation of VW Car-Net, included in most model year 2020 and 2021 vehicles. Upon customer consent, the CCC X data exchange will utilize driving data from Volkswagen Car-Net, the automaker’s connected […]
LexisNexis Launches Telematics OnDemand with Root Insurance
LexisNexis Risk Solutions launched LexisNexis Telematics OnDemand, a solution that seamlessly integrates telematics-based driving behavior data into insurer rating and underwriting workflows. Root Insurance is the first to adopt Telematics OnDemand. The solution enables U.S. auto insurers to access a consumer’s existing telematics data in near-real time at point of quote in order to more […]
Ford Motor Company Launches Usage-Based Insurance Program in Partnership with Nationwide Insurance
Customers can opt in and share driving data with Nationwide, will have access to Nationwide Accident Forgiveness option as well as collision repairs using genuine Ford parts. Ford Motor Company announced a partnership with Nationwide Insurance to offer a usage-based insurance program to new vehicle owners. Ford Insure and Lincoln Motor Company Insure, powered by Nationwide, […]
Toyota Teams up with Progressive Insurance on Usage Based Insurance
Progressive Insurance and Toyota Insurance Management Solutions (TIMS) are partnering to provide owners of connected Toyota vehicles with an opportunity to seek insurance discounts from Progressive. Toyota owners who consent to share driving data from vehicles equipped with Toyota data communication modules will have the opportunity to share their information with Progressive for a potential […]
Nissan Joins LexisNexis Telematics Exchange
LexisNexis Risk Solutions announced that Nissan North America has joined the LexisNexis Telematics Exchange. LexisNexis develops solutions to enrich the customer journey and deliver usage-based insurance (UBI) programs for vehicle owners to easily enroll and participate, giving drivers the opportunity to lower their insurance premiums and reduce the cost of vehicle ownership. Mileage data from […]
UK’s RAC Adds Telematics Diagnostic Monitoring and Repair Referrals to Usage-Based Insurance Program
Insurer will monitor diagnostic trouble codes and offer preemptive maintenance alerts and referrals for its usage-based insurance customers Every driver taking out RAC Black Box Car Insurance who opts for complimentary RAC breakdown coverage or already has existing RAC roadside assistance coverage is now automatically being given access to the RAC’s new state-of-the art ‘connected’ […]
Metromile Announces Automated Direct Repair, Rental Car and Claim Payments Programs
With the pay-per-mile insurer’s AI smart claims system, eligible customers can opt-in to automate the collision repair shop and rental car experience as well as claim payments. Metromile, the pay-per-mile car insurance provider in the U.S., announced three new claim process enhancements with automated Direct Repair, Car Rental and Claim Payments Programs, powered by its […]
Octo Telematics Completes Acquisition of Willis Towers Watson Usage Based Insurance Assets
Octo Telematics (Octo), the UK-based global provider of telematics for the auto insurance industry, announced that it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson that was announced in October. This acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Additionally, Geoff Werner, Global Telematics Leader, will […]
Usage-Based Insurance Projected to Grow to 142 Million Subscribers Globally by 2023
In 2015, close to 12 million consumers globally subscribed to this type of insurance, according to a new report from IHS Automotive, part of IHS, Inc. (NYSE:IHS). The number of consumer subscribers to UBI is expected to grow to 142 million globally by 2023, according to the IHS report. This specific type of automobile insurance […]