Usage based insurance may exchange discounts for privacy risks

Usage based auto insurance

Although the programs are offering cheaper premiums to good drivers, it may come at a cost. Pay as you drive programs, also known as usage based insurance plans, are rapidly increasing in their popularity and use a wireless device installed in the car to allow the insurer to track the actual driving behaviors of the individual so that he or she can receive discounts based on safe habits. However, a recent study is indicating that in exchange for lower premiums, the driver’s privacy may be at risk. The usage based…

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Usage based insurance is causing a growing privacy concern

usage based insurance data security

Though consumers are keen to save money on their policies, they wonder if they might be sharing too much. With the increasing popularity of usage based insurance programs, individuals and organizations are starting to look beyond the potential for saving money and are discovering that a large amount of information is being shared with the insurers. This is causing them to question exactly what and how much data is being collected. A vehicle is already naturally collecting a great deal of information about the way that a driver uses it.…

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