Usage-based insurance telematics have been used in underwriting and in developing new products, but industry experts say claims can benefit from it too. In a July 2015 blog, Strategy Meets Action partner, Monique Hesseling, explained that telematics is useful to …
A survey of 500 consumers conducted by the Progressive Group of Insurance Companies reveals that the majority of participants believe usage based insurance (UBI) is a fairer way to price insurance, versus the traditional insurance rating variables such as age, …
Progressive Corp., the fourth-largest U.S. auto insurer, said it will begin increasing rates for some risky customers who participate in a program that allows the company to electronically monitor driving habits. The decision to lift premiums is a shift for …
Progressive Corp., the fourth-largest U.S. auto insurer, is searching for the right message to attract customers to its Snapshot product that tracks a person’s driving to set rates, Chief Executive Officer Glenn Renwick said. Surveys of prospective customers have shown …
An insurance company monitoring device that records when a car is started and stopped has helped clear a northeastern Ohio man in the suffocation death of his 7-month-old daughter. Twenty-eight-year-old Michael Beard was acquitted by a jury in Cleveland of …
Global insurance telematics subscriptions are expected to grow 81 percent from 5.5 million at the end of 2013 to 107 million in 2018. “With Progressive’s Snapshot having attracted more than 1 million drivers in the U.S. and Octo Telematics already …