Tag: usage based insurance

Driverless cars could be a risk for the auto insurance sector

S.Vagus
driverless cars

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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Usage based insurance devices track drivers using GPS

Julie Campbell
usage auto

This type of program may be causing motorists to exchange their privacy for potential discounts. Drivers who are looking to save money on their auto premiums are starting to look toward options such as usage based insurance, which involves installing a device in the motorist’s vehicle in order to allow the insurer to track actual driving habits, instead of basing premiums exclusively on more general risk models. While this can give safe drivers the chance to prove their low risk, and save money, there may be a catch. Privacy advocates…

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Usage based insurance is not appealing to most Americans

Julie Campbell
usage based insurance auto car tracking gps

A recent study has shown that over half of the drivers in the country aren’t sold on having their habits monitored. The results of a study conducted on the popularity of usage based insurance, also known as a pay as you drive plan, have recently been released, and they have shown that 51 percent of Americans will not even consider enrolling in this type of program. The majority of consumers are resistant to being monitored in order to be able to obtain possible discounts. The results of the study that…

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Insurance technology could place US drivers at risk, says hacker

Julie Campbell
Increasing auto insurance premiums technology

Tech expert, Corey Thuen, will be speaking at the S4 conference to show that pay as you drive dongles aren’t secure. Corey Thuen is a Digital Bond Labs security researcher, who has been working for a number of weeks on the subject of the insurance technology of onboard network dongles that are connected to the OBD2 ports of vehicles as a component of usage based auto policies. The findings of the research have been striking and they will soon be presented in a talk entitled “Remote Control Automobiles”. Thuen looked…

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Usage based insurance tracking soon available through OnStar

Julie Campbell
usage based auto insurance

As of the summer of 2015, a motorist’s driving behaviors can be assessed through its onboard system. Beginning this summer, the OnStar service found in many vehicles will also be capable of tracking a driver’s behaviors as a part of an opt-in usage based insurance program that will make it possible for safer motorists to save on their coverage. This program will provide an evaluation of a driver’s habits over a period of ninety days. Once that time has been completed, drivers will be given the opportunity to take advantage…

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