The Snapshot program has now received another level of protection for its mobile device technology.
Progressive has just received yet another patent in connection to its usage based insurance program, which covers the specific mobile device that is used by the insurers to obtain driver data.
The insurer was awarded U.S. Patent Number 8,311,858 for its mobile device.
The wireless device is installed into the vehicle of the usage based insurance policyholder in order to provide data to the insurer that can be used in order to determine that motorist’s unique risk level. Progressive then uses this information to apply discounts, when appropriate, to drivers who present a lower level of risk.
The usage based insurance patent also has to do with an in-vehicle audio alert feature.
That feature of the device uses the data regarding the motorist’s driving behaviors in order to provide him or her with information that could give him or her the opportunity to adjust those behaviors in order to lower their risks.
The Snapshot usage based insurance program from Progressive gives a driver the opportunity to have a personalized discount created based on actual driving behaviors. Over one million motorists are already taking part in this program across the country. According to the insurer, the average savings for those drivers is currently about $150 per year.
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The usage based insurance program was recently expanded by the insurer in order to make it available to be tested by all drivers, not just those who have policies with Progressive. This way, they could use the wireless device for thirty days in order to find out what their premiums would be within the program. This would help them to determine whether or not they would be able to save money based on their own unique driving behaviors.
When speaking about this new usage based insurance patent, the national product development leader at Progressive, Tom Hollyer, said “We are committed to leading the collection and analysis of real-time driving data while protecting our intellectual property.” He added that “We are appreciative that the U.S. Patent Office continues to recognize our advancements that help us further strengthen our leadership position in the usage-based insurance field.”
Insurance Video on how Progressive usage based auto insurance works: