usage based insurance News

Using Telematics in Claims

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 …

Car Insurers Promise Discounts for UBI Customers

Insurance companies around the world are promising lower rates on car coverage. The catch is they want to install the equivalent of an airplane’s black box to track how and where you drive. Smartphone applications and devices that record trip …

Thinking About Usage Based Insurance? Get Real Life Experience Advice in Boston and Los Angeles

Seminar for insurance carrier professionals will offer frank insights and experiences on developing a successful UBI program Scottsdale, AZ, October 6, 2014: We’ve all seen the statistics. Telematics and UBI are exploding at an exponential rate. From 1.85 million insured …

Insurance Consumers Could Purchase Products From Amazon, Google

Two-thirds (67 percent) of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying from online service providers such as Google and Amazon, according to new research by Accenture based on …

Auto Insurers’ Driver Tracking Hits Wall in California

California is turning into a battleground for technology that allows auto insurers to track their customers’ driving behavior and offer them lower premiums, but that privacy advocates reject as an excessive intrusion with serious consequences. Insurance companies are increasingly installing …

Allstate Announces Crowdsourcing Effort to Test Usage-Based Insurance Product

Allstate’s usage-based insurance product, Drive Wise, will be put to the test by interested employees and Allstate agency owners. The crowdsourcing technique will put the device in the hands of employees and agency owners around the country to identify opportunities …

Study: Europe to Lead Insurance Telematics Market

The number of insurance telematics users in Europe will grow from 1.5 million in 2010 to 44 million in 2017, initially driven by the UK and Italy, according to ABI Research’s study, “Insurance Telematics.” Despite aggressive efforts from Progressive, North …

89 Million Insurance Telematics Subscribers Globally by 2017, Says ABI Research

The number of global insurance telematics users will grow at a CAGR of 90% from 1.85 million in 2010 to 89 million in 2017. Dominique Bonte, group director, telematics and navigation, comments, “While insurance telematics or usage based insurance (UBI) …