• About the use of telematics by insurance companies


    Usage Based Insurance
    Manage premiums in a more reasonable and equitable way, making your insurance product and service stand out from the competition.
    Data for usage-based insurance (UBI) is collected by the driver’s vehicle and analyzed by the insurer, which then uses it to determine how much of a discount the driver is eligible to receive. The better the driver, the better the discount.
    Reduce Expenses On Car Accidents, Thefts And Fraud
    Which insurance companies use telematics?
    Progressive Snapshot — The Snapshot device or mobile app tracks your mileage, the time of day you drive and how you drive.
    State Farm Drive Safe & Save — The mobile app measures behaviors like acceleration, braking, cornering, speed and distracted driving.
    Allstate Drivewise — The mobile app tracks your speed, braking and the time of day you drive to determine your cash back.
    Nationwide SmartRide — The app measures miles driven, hard braking, acceleration, idle time and night-time driving.
    Travelers IntelliDrive — The app captures the time of day you drive, along with your speed, acceleration and braking.
    Esurance DriveSense — The app measures a range of driving behaviors, such as miles driven at high speeds, hard braking and major speed changes.
    Metromile — The app uses a base rate and the number of miles you’ve driven to determine how much you pay for coverage each month.
    Enhance Underwriting And Claims Management Ability
    To help you save and to encourage safety behind the wheel, most programs provide feedback on your driving. If you use this information to improve your habits, you can save even more. Some examples of available tools are:
    Emphasis on low mileage
    Travelers and National General only track miles driven, and discounts are purely based on how many miles you log.
    Emphasis on safe driving
    Allstate Drivewise does not offer low-mileage discounts. They just want to see that you avoid unsafe behavior, such as hard braking, high-speed driving and using your car during late-night hours.
    One-time scoring of driving habits
    Nationwide only tracks your driving for an initial period to score your driving habits. You then send the tracking device back, and any discount will be applied for as long as you keep your Nationwide auto coverage.
    Concox VL04 and VL02 offering works similarly. It’s an accident forgiveness program that gives you an opportunity to prove that your driving habits are safer than your driving record would indicate.


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