Approximately 78% of commercial auto insurers are in the research phase of preparing for usage-based insurance (UBI) products, according to a new report from The National Alliance for Insurance Education and Research and SambaSafety. This signals interest in UBI, “but …
General Motors has filed to trademark “GM Financial Insurance Company,” according to a record found with the U.S. Patent and Trademark Office. The filing was made on Jan. 24, 2022. GM Financial is the auto financing arm of General Motors. …
Mercury Insurance announced that the company has made its usage-based insurance app, MercuryGO, available to drivers in Illinois to help improve driving skills and traffic safety. Mercury says the app acts as a virtual driving coach, providing skill scores that …
Mercury Insurance has made its usage-based insurance app, MercuryGO, available to drivers in Oklahoma. The app acts as a virtual driving coach, providing skill scores that give real-time feedback about driving behavior, the company said. Mercury auto insurance policyholders who …
Now that most major carriers are selling usage-based car insurance, one of the pioneers in that sector is selling its technology to other carriers as a claims management tool. San Francisco-based Metromile announced that Tokio Marine Holdings had deployed a …
Managing general agent (MGA) Fairmatic has introduced a usage-based insurance model that features monthly commercial auto premium adjustments based on an insured’s driving behaviors. Fairmatic’s “performance-priced commercial auto insurance” product is currently available to commercial fleets and on-demand delivery and …
Mile Auto Inc. has launched its pay-per-mile insurance product in Oregon and Illinois. In a press announcement, Mile Auto said its pay-per-mile model can save low mileage drivers 30 percent to 40 percent over traditional rates, by charging customers only …
The Travelers Companies, Inc. has launched IntelliDrive smartphone app, which gives customers insights into their driving habits and auto insurance priced according to how they drive. Customers who use the app and drive safely can save up to 20 percent …
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 …
Global professional services company Towers Watson and Cambridge Mobile Telematics (CMT), a telematics technology provider will use “advanced mobile sensing, data analytics and behavioral science,” in an agreement to provide “a jointly developed comprehensive usage-based auto insurance (UBI) solution and …
