usage-based insurance (UBI) News

Octo Telematics Buys Usage-Based Insurance Assets of Willis Towers Watson

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 to Buy Usage-Based Insurance Assets of Willis Towers Watson; Partnership Announced

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 …

XDimensional Technologies Announces Expanded Capability to Support Usage-Based Insurance and Telematics

Support for Usage-Based Insurance and Telematics allow Carriers, MGAs/MGUs, Program Managers, and Wholesalers to access new market opportunities Brea, CA, May 24, 2017 – Today, XDimensional Technologies announced the XD Insurance Processing Platform™ now supports Usage-Based Insurance (UBI) and Telematics, …

Small Fleet Managers Would Choose Insurer for UBI Service: Survey

More than half of small fleet managers are likely to stay with their current insurance carriers rather than switching if their insurer offers usage-based insurance (UBI) programs, according to a new survey by analytics firm Lexis Nexis. If an alternate …

Driveway Software, Pinnacle to Offer Usage-Based Insurance Services to Insurers

Driveway Software and Pinnacle Actuarial Resources have teamed up to offer the auto insurance industry a coordinated usage-based insurance (UBI) approach that includes driver behavior scoring. Auto insurers can now leverage Driveway’s technology backed by Pinnacle’s rating, actuarial and regulatory …

Making the Economics of Telematics Work for Insurers

The crossroads of auto insurance these days is telematics, the use of an electronic device to monitor how an automobile is being driven. The device monitors where a car is and how it is being driven, and, in theory, should …

Driveway Software Launches Smartphone Platform for Usage-Based Insurance Market

San Francisco-based , a provider of smartphone-based telematics products for the usage-based insurance market, has introduced its SmartUBI Platform, a complete insurance telematics platform which includes a smartphone usage-based insurance (UBI) application, and cloud based analytics and portals. Driveway’s SmartUBI …

How U.S. Consumers Feel About Usage-Based Auto Insurance

U.S. drivers are open to purchasing usage-based auto insurance (UBI) policies, or “pay as you drive” insurance, and are even more interested when told their premiums would go down, according to a survey. According Towers Watson, the results of its …

DriveFactor, Admiral Group to Offer Usage-Based Insurance Throughout UK

DriveFactor has partnered with Admiral Group plc to expand usage-based insurance (UBI) offerings throughout the U.K. Through this partnership, DriveFactor will power a version of Admiral’s Bell Safe Driver policy, which offers discounted auto insurance to U.K.-based drivers who apply. …

Progressive Releases Terms for Usage-Based Insurance Licensing Program

Progressive Insurance is making the intellectual property it owns available to companies interested in implementing usage-based insurance (UBI) programs under a new licensing program. Progressive said licensing may be available for UBI programs under the following terms: Term of Agreement: …