Usage based insurance clears man of murder charges

Progressive usage based Insurance

The device for the man’s auto coverage program helped to prove that he could not have been the culprit. A usage based insurance device used by a man in northeastern Ohio has helped to prove to the courts that he could not have been guilty of the suffocation death of his daughter, who was seven months old. The man was acquitted in a Cleveland court partially because of the data in his UBI device. Michael Beard, 28 years old, was acquitted by a jury of murder as well as other…

Read More

Usage based insurance may reach 50 percent in 8 years

usage based insurance dashboard

By the year 2020, over half of all auto policies may use UBI devices for premiums calculations. The results of a research study performed by Strategy Meets Action has revealed predictions that by the year 2020, one fifth of all insurers will have usage based insurance products that will cover over half of the entire personal auto coverage market. It indicated that there would be a very rapid growth in this sector of the industry. The name of the SMA study was “Telematics/Usage Based Insurance: A Catalyst for Change”. The…

Read More

DriveFactor offers new usage based auto insurance program for drivers

Usage based insurance

DriveFactor has announced its latest product that uses usage based insurance (UBI) technology to allow good drivers to prove their safe driving habits and receive discounts on their premiums. The program uses a UBI device to track the save driving behaviors of specific drivers so that they can save money on their coverage. It measures the way in which a car moves so that the insurer can more accurately determine the risk associated with the driver and calculate a more precise rate for protection. DriveFactor was established in 2010 under…

Read More