Verifly drone insurance launches a US pay as you fly coverage

Farmers insurance drone

A startup has created an on demand and per flight form of insurance policy for drone users. The Verifly drone insurance policy launched after having been in the making since the end of 2014. This policy makes it possible for drone users to pay for coverage per flight and on demand. The drone insurance policy uses a mobile app and service that have been in development since 2014. The Verifly drone insurance coverage is available in the United States. The policy covers unmanned aerial vehicle (UAV) use within the commercial…

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Allstate launches usage-based auto insurance program in Alberta

usage based auto insurance

New insurance program could net drivers savings on premiums A new auto insurance program in Alberta, Canada, could give drivers a chance to save money on their coverage. Allstate has launched a new usage-based insurance policy in the province. The policy involves the use of telematic technology, which is designed to collect data on how a vehicle is being driven. This may be good news for safe drivers, as they will be able to obtain discounts on their insurance coverage. This data is collected over six months, giving Allstate the…

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Usage-based auto insurance comes to China

auto insurance ride share

Lichengbao releases China’s first usage-based auto insurance product Auto data company Lichengbao has launched a new usage-based auto insurance product in China, which is the first of its kind in the country. The company has partnered with several smaller insurers to make this possible, aiming to provide drivers with a way to save money on auto insurance coverage. Usage-based insurance has been gaining popularity in China, largely due to the fact that drivers in large cities only use their vehicles sparingly. 40% of consumers in China drive less than 15,000…

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New usage based insurance available to Pennsylvania drivers

auto insurance usage based

This pay as you drive coverage lets safer drivers prove their reduced risk for premiums discounts. Auto policies can be quite costly and they are certainly an area in which most drivers would like to be able to reduce their expenses so they can direct that money to other areas of their budgets, and in response to this, usage based insurance products are being offered by many insurers in order to provide those motorists with a greater chance to save. While not everyone can benefit from savings through these auto…

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Wearable technology may change the nature of workers compensation claims

workers compensation safety month

New breakthroughs in wearables could potentially revolutionize the healthcare industry. Recent advancements in wearable technology are changing the nature of healthcare, especially when it comes to boosting the independence and overall wellbeing of patients who are suffering from serious injuries, which could have some interesting implications for workers compensation claims. The idea is that by using wearables, the insurance industry could greatly benefit in overall claims costs. The workers compensation industry could be able to save a considerable amount on its claims while it greatly improves the quality of life…

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Progressive to launch new app to help drivers save money on auto insurance

usage based insurance dashboard

New app will work in tandem with insurer’s Snapshot program Progressive Insurance has begun developing a new pilot mobile application that may allow drivers to earn discounts on their auto insurance coverage. The insurer has chosen Censio to develop the software for the new mobile application, which will be based on Progressive’s usage-based insurance program, called Snapshot. This type of insurance coverage is becoming more popular among consumers, especially as they look for ways to save money on the coverage they have. Usage-based auto insurance continues to attract more interest…

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Allstate Insurance Drivewise telematics app receives upgrade

allstate auto insurance

The usage based auto insurance program offered by the insurer is rewarding safer drivers. Allstate Insurance is now adding a new upgrade to the app for its Drivewise┬« Mobile in order to be able to enhance the experience for drivers who are looking to save money based on their safe habits behind the wheel. This new version of the usage based insurance app is meant to boost the incentive for safe driving. The smartphone app from Allstate Insurance has already been winning awards and is now offering drivers a new…

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Insurance news is undergoing a massive evolution from technology

Insurance news technology internet of things

The Internet of Things (IoT) is expected to be a driving force behind massive changes to the industry. Technology has been making insurance news for many years, but it is only of late that the changes have been at an exponential rate, as smart devices have become a typical part of the average household, and as the Internet of Things begins its own expansion. The solutions offered by the IoT can be as simple and practical as they are personalized. This means that insurance news generated by the IoT is…

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Usage based insurance program lets young drivers prove themselves

Young Driver auto usage based Insurance

This telematics based system will give new Ontario, Canada motorists the chance to prove their safety habits. A company called Ingenie Canada Inc. has now announced that it will be offering a usage based insurance program in Ontario, Canada, that will use telematics technology in order to allow drivers who are aged 24 years and younger to show that their habits are safer than the demographic as a whole. The company is allowing younger drivers to show their true risk level instead of being lumped in with the group. The…

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Driverless cars could be a risk for the auto insurance sector

Insurers suggest that self-driving cars could disrupt the insurance market in the future Driverless vehicles have reached a major milestone. Three auto insurance suppliers and an auto parts manufacturer have included driverless cars in their annual reports concerning securities. In these reports, the companies noted that self-driving vehicles are a risk, which could eventually disrupt their business. The reports highlighted the technology behind these vehicles, which could become a major force in the auto insurance space. Companies are noting that driverless vehicles represent a significant risk in the future, but…

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