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 […]