Tag: usage based insurance discounts

Usage based insurance technology embraced by drivers who want to save

H. Cutner
usage based insurance auto

According to the results of a recent survey, drivers will report their data in order to achieve greater savings. The results of a survey from Cisco Systems, the networking giant, have now been released in a report from the company that have shown that usage based insurance has great potential as consumers are willing to embrace technology in their vehicles in order to enjoy lower premiums. Consumers have shown that they would be willing to allow insurers to track their driving data in exchange for savings. The results of the…

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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…

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Does usage based insurance for your car risk your privacy?

S.Vagus
Usage based insurance

How much of your data is shared by your vehicle telematics? Usage based insurance programs are being offered by a growing number of auto insurers, with the highly attractive benefit of potential savings on monthly premiums. Consumers now wonder about the cost of these money saving devices. The type of data that is transmitted through the telematics devices used for the usage based insurance programs depends on the insurer and the gadget itself. While some simply report very basic information such as the number of miles driven, others can report…

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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…

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