I think the difference with Travelers’ product is that they are applying an ap versus an expensive box. The challenge of those boxes that some competitors use is the cost. If an insurer can implement the system without this large fixed cost then the program becomes more profitable.
Allstate has been using an app based usage program for years now. Progressive just released theirs this year, now Travelers is joining the game. But I’ve been signing customers up through Allstate since 2014. This is not anything new. The only time Allstate will use the box is for their pay by mile program they have in Texas.
Travelers is copying Liberty Mutual and Safeco on this credit. They just call it by a different name.
And Liberty/Safeco copied Progressive and Allstate who jointly came up with the technology first.
I think the difference with Travelers’ product is that they are applying an ap versus an expensive box. The challenge of those boxes that some competitors use is the cost. If an insurer can implement the system without this large fixed cost then the program becomes more profitable.
Allstate has been using an app based usage program for years now. Progressive just released theirs this year, now Travelers is joining the game. But I’ve been signing customers up through Allstate since 2014. This is not anything new. The only time Allstate will use the box is for their pay by mile program they have in Texas.