Usage based insurance intellectual property from Progressive can now be licensed

Progressive usage based Insurance

The insurer is specifying that it is the intellectual property and not the software in the program. In December 2012, Live Insurance News reported that Progressive would be licensing the intellectual property for its usage based insurance program, and that other carriers would start being able to use it as of 2015. Many have wondered whether the program also includes the software for the UBI coverage. For this reason, the insurer has issued an additional statement to clarify that it is only the intellectual property relating to the usage based…

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Usage based insurance licensing terms released by Progressive

Progressive usage based Insurance

With six American patents in place, the insurer has now announced the rules for the use of its intellectual property. Progressive has just announced the terms of a new licensing program that it has developed for the use of its usage based insurance programs and the various proprietary elements that are related to them. The insurer has been carefully developing and protecting the various parts of these programs over the years. This licensing option has been long awaited by the industry, as the insurer has been indicating that it would…

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Usage based insurance offered by Progressive to non customers

usage based insurance auto

Insurer is expanding its program to individuals who want to save on their policies. The Snapshot usage based insurance program at Progressive Corp. has already proven to be highly popular as hundreds of thousands of drivers have agreed to allow the company to track their driving behaviors in order to gain the opportunity to save on their coverage, and now this same chance to save is being offered to non customers. Snapshot auto insurance is now available to anyone who would like to track their behaviors behind the wheel. Progressive…

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DriveFactor announces usage-based car insurance program expansion for cheaper premiums

Discount-Car-Insurance

DriveFactor, formerly called Crimson Informatics, has just announced that it is now offering programs for usage-based car insurance that will allow drivers to use mobile technology and telematics in order to prove their safe driving habits so that they can lower their premiums based on actual performance. A growing number of auto insurers have been adding telematics and usage-based insurance (UBI) to their programs. According to DriveFactor, this type of system could save a policyholder up to half off their premiums. The DriveFactor programs have been created to allow insurance…

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