Auto insurer Metromile said it is teaming up with Ford Motor Co. to provide owners of Ford vehicles with connectivity technology with personalized car insurance.
Ford is Metromile’s first agreement with a major manufacturer and Metromile said its models are the most popular domestic make among its insueds.
Metromile uses telematics across all of its policies and through artificial intelligence it provides real-time, sensor-based pricing based on more than 3 billion miles of driving.
Owners of eligible Ford vehicles with built-in connectivity will be able to opt in and connect their vehicle to Metromile. The insurance company will then count any miles driven directly from the vehicle’s odometer without any additional equipment.
Currently, Metromile customers who don’t have factory-fitted connectivity in their vehicle, connect the Pulse device, a small wireless device, to their vehicle’s onboard diagnostic port.
“Connected vehicles have the potential to deliver great benefits to Ford customers, including the ability to help lower their insurance premiums,” said Alex Purdy, director of Business Operations, Enterprise Connectivity, Ford Motor Co. “Metromile’s approach to insurance is an excellent example of how connected vehicles can help people save money by simply paying for only what they use.”
“Working with Ford is a big step forward in our goal to becoming the first truly connected insurer,” said Dan Preston, CEO, Metromile.
As a result of this partnership, Metromile said it “expects to move the insurance industry away from factors like credit score, gender, profession or ZIP Code,” which it said “can potentially exacerbate existing socioeconomic inequalities.”
According to Metromile, Ford owners can save $741 a year on their car insurance on average because they pay per mile.
Was this article valuable?
Here are more articles you may enjoy.