usage-based auto insurance (UBI) News

Usage-Based Insurance Pioneer Metromile Now Offering Its Technology as Claims Tool

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 …

Fairmatic Bets On Driver-Driven Premium Adjustments to Score in Commercial Auto

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 Launches Pay-Per-Mile Insurance in Oregon, Illinois

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 …

Travelers Launches Usage-Based Insurance App for Personal Auto Customers

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, Slow at First, Picking Up Speed

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 …

Towers Watson & Cambridge to Provide Usage-Based Auto Insurance Market Info

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 …