Insurance companies receive driver data from automakers

Insurance Companies collect driver data

Vehicle software can collect motorist driving behavior data and share it with insurers Insurance companies have been offering usage-based coverage plans to customers for several years, tracking driving behaviors in order to offer lower risk motorists the opportunity to save on their premiums. These plans use apps, dongles, or other forms of telematic tracking and transmitting methods The tracking can include recording how many times a motorist drives, how often they brake hard, if they speed, and how quickly they take corners. Many drivers have been hesitant to enroll in…

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Hartford to test a new form of car policy in 2012

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…

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