Hartford Financial Services Group has announced its intentions to begin a pilot program in 2012 for an auto insurance policy based on telematics. Hartford’s president of consumer markets, Andy Napoli made the announcement during the company’s investors meeting. The new policy will be using telematics. According to Napoli, using the “devices in insured vehicles to transmit information about driving behavior, such as miles driven, speed, acceleration, deceleration, and using that information to price the risk.” This pilot program will be known as TrueLane and will begin in the first half…
Read MoreTag: Progressive snapshot
Millions of drivers may be eligible for car insurance discounts, according to Progressive Insurance
Progressive Insurance has issued a new report detailing how as many as 70 million drivers in the U.S. could be missing out on major savings. The insurer launched a new product earlier this year that collects data from drivers who opt to have a simple device installed in their vehicles. The device tracks driving habits and send the information to Progressive agents who determine whether these habits are safe. Those with safe driving habits are eligible for major discounts on their car insurance policies. Progressive’s report draws upon data collected…
Read MoreDoes Progressive’s Snapshot program offer a true auto insurance discount?
Progressive has taken a new approach to car insurance, called the Snapshot program, that allows its policy holders to share their driving habit information for the opportunity to try to save money. According to the general manager of usage-based insurance at Progressive, Richard Hutchinson, the program is completely voluntary, so drivers who are not interested in taking part are not required to do so. Participating drivers have their cars fitted with a Snapshot transmitter device, which is compatible with most vehicles made in 1996 and afterward. The device monitors the…
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