Live Insurance News

Usage based insurance is not appealing to most Americans

January 20, 2015January 17, 2015 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…

Insurance technology could place US drivers at risk, says hacker

January 19, 2015January 17, 2015 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…

Usage based insurance tracking soon available through OnStar

January 8, 2015January 7, 2015 Julie Campbell

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…

Usage-based auto insurance is becoming more acceptable

September 12, 2014September 9, 2014 S.Vagus

New study shows that consumers are becoming more comfortable with usage-based insurance coverage LexisNexis has released a new study concerning telematics and usage-based auto insurance coverage. The study notes that consumers in the U.S. are becoming considerably more comfortable with the idea of usage-based insurance, largely because of the savings they can take advantage of. Rate discounts are a main driver behind the adoption of telematics among drivers and businesses that manage vehicle fleets. Drivers do have some privacy concerns, however, in regards to the information that telematics systems collect.…

Usage based insurance boosts popularity by assuaging privacy concerns

September 10, 2014September 11, 2014 Julie Campbell

Both consumers and commercial fleets are increasingly embracing UBI programs and their tracking devices. Consumers and managers of commercial fleets, alike, are experiencing a shift in their opinions with regards to usage based insurance, as the benefits of being able to save money and encourage safer driving practices appear to be winning out over concerns with regards to privacy. These auto insurance programs have been slow to be accepted due to the telematics devices that track vehicles. Drivers are starting to discover that there are some considerable financial benefits that…