Octo Telematics, the the London-based provider of telematics for the auto insurance industry, announced it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson, which was announced on Oct. 11, 2017. The financial details of …
Octo Telematics, the London-based provider of telematics for the auto insurance industry, announced it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson and will create a partnership with the broker to develop insurance products. These UBI assets …
Startup telematics-based auto insurer Root is now offering rental coverage in partnership with ridesharing firm Lyft. For policyholders with short-term needs for alternate transportation after an incident, Root will now offer a choice between a rental car or a comparable …
Property/casualty insurance data supplier Verisk Insurance Solutions has formed a strategic alliance with Silicon Valley’s Driveway Software to jointly develop a smartphone telematics product for automakers, insurers and drivers. The product will combine the Driveway smartphone telematics platform for data …
Online insurance comparison shopping agency CoverHound has announced a partnership with pay-per-mile auto insurance company Metromile to provide more coverage options for customers of both companies. The partnership gives CoverHound, which now operates its personal lines platform in all 50 …
Usage-based auto insurance will explode globally in the next seven years, a new industry analysis asserts. IHS Inc.’s IHS Automotive predicts that 142 million customers will sign up globally for the telematics-infused policies by 2023, up from nearly 12 million …
Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …
Telematics devices offered by auto insurers appear to working to change the behavior of drivers. More than half (56 percent) of the 1,135 drivers participating in an Insurance Research Council (IRC) public opinion survey said they have made changes in …
Consumers as well as commercial fleet managers are becoming more accepting of usage-based insurance (UBI) in which a telematics device is used to track driving behavior as safety and savings benefits appear to be trumping concerns over privacy. Personal auto …
New York’s Department of Financial Services (DFS) issued a bulletin to all New York auto insurers encouraging them to adopt “usage-based insurance” (UBI) programs. Under these voluntary programs, consumers can install “telematics” devices in their cars that – with the …
