Usage-Based Insurance (UBI) Global News

The PTOLEMUS research team is tracking important usage-based insurance (UBI) developments on a daily basis, take a look to see what the latest news is in UBI.

You can find more in our quarterly UBI dashboard

2 February 2021
Greater Than partnered with Mitsui Sumitomo Insurance (MSI) to launch a UBI solution for Carro, South East Asia’s automotive marketplace

Carro users in South East Asia can avail tailored insurance policies with pricing reflective of their actual driving behaviour calculated based on the driving behaviour and distance travelled.

13 January 2021
AXA Belgium partners with CMT to launch AXA DriveCoach

AXA’s young driver application is now powered by Cambridge Mobile Telematics and switches from its initial OBD proposition to a smartphone-centric one. The driving behaviour is calculated on the basis of acceleration, speed, braking, turns and distraction.

21 December 2020
Over the past 12 months, Ford has secured agreements with State Farm, Allstate, Liberty Mutual, Metromile and Verisk Data Exchange to support usage-based insurance policies

Ford is focussing on helping insurance carriers use connected vehicle data without the need for aftermarket plug-in devices to inform their usage-based insurance programmes, improve their underwriting process, and pass along driver behaviour discounts to qualifying Ford vehicle owners

21 December 2020
Zego acquired Drivit to embed real-time driver behaviour data into the Zego Sense app

The incorporation of Drivit’s technology onto the Zego sense app will enable usage of actual driving data to commercial motor insurance policies’ pricing

17 December 2020
Credit Karma launched Karma Drive, a TBYB proposition to allow members to see if they qualify for a discount on a new auto insurance policy from Progressive Insurance

Credit Karma, the financial services platform of Intuit, has launched Karma Drive, a UBI platform in partnership with Zendrive and Progressive. Credit Karma members can access a 30-day driving trial, directly from the app, where they will receive continuous real-time, rich feedback on their driving. At the end of the trial period, members are alerted if they qualify for a discount on a Progressive auto insurance policy

25 November 2020
Hastings Direct has partnered with CMT to launch YouDrive, a PHYD proposition for drivers of all ages

The programme uses CMT’s smartphone-centric solution, which allows Hastings Direct to price based on customers’ actual driving style

IMS partnered with Nationwide to launch ‘SmartMiles’ a pay-per-mile insurance programme

The new SmartMiles programme bases insurance charges on miles driven and also allows drivers to earn up to a 10% discount for safe driving. IMS also supports Nationwide’s PHYD insurance programme SmartRide which launched in 2011.

4 November 2020
FairConnect and DriveQuant join forces to strengthen European leadership in connected motor insurance

The new partnership will be supported by a €5 million investment from Palamon Capital Partners, a private equity firm that invested in FairConnect in 2018.

21 October 2020
LB Forsikring Partners with TrueMotion to Promote Safe Driving in Denmark

LB Forsikring, one of the largest auto insurers in Denmark will use driving insights from TrueMotion’s platform to power Bilist+, its smartphone-centric telematics programme. Bilist+ members can save up to 1500kr on their deductible and learn about their driving behaviour

13 October 2020
Southern Farm Bureau announced a new smartphone-centric UBI programme, DriveDown, in partnership with Arity

Southern Farm Bureau announced the new mobile UBI offering that rewards a customer for safe driving habits in partnership with Arity leveraging its expertise in insurance telematics through its 400+ billion miles of driving data

12 October 2020
Swiss Re and Daimler AG announced a joint mobility insurance venture, Movinx

Movinx is a 50/50 joint venture that uses car data, including ADAS devices and traffic conditions to calculate and price risk. The first insurance product and service is planned for launch in France in 2021.

14 August 2020 
Insuretech By Miles Announces 5-Year Agreement With Zurich UK

By Miles is the first company in the UK to offer real-time pay-as-you-drive insurance, with its policies aimed at those who drive under 7,000 miles a year. Instead of paying a traditional annual premium, customers still get comprehensive cover, but pay a low fixed amount upfront to protect the car whilst parked (protecting cars against theft, accidental damage and vandalism), and pay monthly based purely on how many miles they drive, to cover them whilst on the move. All policies also include No Claims Bonus protection at no extra cost.

14 August 2020
Honda App Links Feedback on Drivers to Insurance Carriers Via Verisk
Honda Motor Co. is offering an app that scores the safety of car owners’ driving habits and links with insurance carriers that can offer discounts to drivers who are deemed a good risk.

11 August 2020
CCC-VW partnership offers immediate insurance quotes based on historic, real driving data

CCC Information Services Inc. and Volkswagen Car-Net announced today that CCC has become the automaker’s exclusive provider of insurance telematics services for the newest generation of VW Car-Net which includes model year 2020 and 2021 vehicles.

The DriveView program became available to Volkswagen Car-Net subscribers starting with model year 2020. By enrolling in DriveView, Car-Net users may be eligible for discounted rates from some of the top automotive insurance companies in the country.

15 July 2020 
IMS launches a usage-based insurance product for German insurer, ADAC Autoversicherung AG

IMS has launched a usage-based insurance product for German insurer, ADAC Autoversicherung AG. The programme, ADAC Fahr + Spar, gives policyholders a 10% discount on their premium after app activation and the first 100km recorded is transferred. Drivers can also earn up to 30% of their premium in cashback, based on their driving behaviour (acceleration, braking, speed). The programme is powered by IMS’ smartphone app and IMS’ Wedge beacon (rebranded as DriveDot by ADAC).

25 June 2020
CAA says more Ontario members turning to pay-as-you-go car insurance during pandemic
A non-profit travel organization has seen a spike in the number of members using its pay-as-you-go car insurance, especially over the past few months.

26 June 2020
Generali takes a 24% stake in rival Cattolica Assicurazioni

26 June 2020
Iveco, Aon and Reale Mutua launch pay-how-you-drive insurance policy, based on Iveco’s Safe Driving IndexGenerali takes a 24% stake in rival Cattolica Assicurazioni

Iveco together with Iveco Capital, Aon and Reale Mutua, have launched a connected auto liability insurance policy based on the pay-per-drive model. The new cover is built for the owners of the Iveco models equipped with new connectivity solutions such as the new Daily and the new IvecoS-Way. The new connectivity solutions put the vehicle in direct contact with the Iveco Control Room, providing a team of experts with real-time data on the performance and health of the vehicle, as well as on the specific way of use by the driver.

The policy provides variable rates based on Iveco’s Safe Driving Index, which reflects the actual use of the vehicle and the assessment of the driver’s driving style. The annual evolution of the rates will reflect the improvements in driving style obtained following the advice of the on-board tool Driving Style Evaluation.

11 June 2020
Rosgosstrakh continues to transform its IT architecture using the Guidewire Insurance PlatformMore car owners asking about user based insurance amid drop in travel during COVID-19

Rosgosstrakh continues to modernise its IT architecture by partnering with Guidewire Software, Inc., a leading IT platform developer for the insurance industry. It is expected that the entire vertical of Rosgosstrakh’s auto insurance will be transferred to work in the target IT architecture in the near future.

7 June 2020
More car owners asking about user based insurance amid drop in travel during COVID-19

With a reduction in daily travail and commuting amid the COVID-19 pandemic, more drivers are considering UBI in a bid to keep their premiums low.

5 June 2020
Tata AIG launches user based car insurance policy to help owners save premiums

Tata AIG general insurance has launched a telematics-based next-gen application and device ‘AutoSafe’.

11 May 2020
Xceedance partners with Xemplar on mobile insurtech

With Xemplar’s mobile platforms and smartphone-based telematics for personal and commercial lines insurers, Xceedance will augment its technology capabilities for insurers looking to launch and service user-based insurance (UBI) products.

21 April 2020
IMS announces a low-cost, quick-start auto UBI product based on mileage

IMS, a subsidiary of Trak Global Group (TGG) announced a product that enables the implementation of a mileage-based user based insurance product for North American insurers. IMS is expediting the release based on mileage and pay as you drive principles to help insurers emerge with more data and digital-oriented means to assess risk for drivers.

31 March 2020
Telematics service provider DriveQuant launches DriveKit, its library of driving analytics services

DriveQuant has launched its library of driving analytics services, DriveKitDriveKit includes several SDK and API modules to transform any mobile app into a telematics and driver coaching device. 

6 March 2020
The Insurance Regulatory and Development Authority of India (IRDAI) proposes hike in compulsory third-party motor insurance premiums

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a hike in compulsory third-party motor insurance premiums, for the financial year 2020-2021. The exact increase varies by the category of the vehicle.

26 February 2020
Nationwide and Generali partner to offer insurance solutions through N2G Worldwide Insurance Services banner

N2G will exclusively promote, distribute and administer insurance solutions for multi-national exposures on behalf of both organizations. Business to N2G will be sourced through independent agents, brokers and wholesalers. Nationwide will assume U.S. risk exposures and Generali (directly or through its partners) will assume non-U.S. exposures.

11 February 2020
Pay-per-mile insurer Metromile and insurer Tokio Maine’s expand their partnership to improve customer claims

Metromile has announced that Tokio Marine Group has deployed its product Metromile REPORT, across its $13 billion auto insurance book. Tokio Marine Group expects the product to improve customer claims, as customers can easily report accidents online and through an app. 

28 January 2020
kasko2go partners with general insurer die Bayerische to launch a new user based insurance programme in Germany
kasko2go, an eco-system provider that uses AI and telematics big data assessments, has partnered with general insurer die Bayerische with plans to launch user based insurance in Germany, following the successful launch with Dextra, a subsidiary of die Bayerische. The product gives discounts of up to 50% on traditional car insurance, where premiums are calculated based on mileage and safe driving. 

23 January 2020
Car rental company Avis Budget Group set to connect more than 22,000 Fiat vehicles in Europe, and gather telemetry data from the vehicles
Avis has entered an agreement with Fiat Chrysler Automobiles (FCA) to connect more than 22,000 Fiat vehicles from Avis Budget Group in Europe. Telemetry data from the connected vehicles will be gathered in real-time, including mileage, fuel level, and updates on the mechanical condition of the car. Avis Budget Group’s fleet managers can also process information more readily, improving their operations. 

13 January 2020
ERGO Releases ‘Safe Drive’ Telematics Insurance Proposition Using The Floow’s FloowDrive Solution
ERGO launched a new telematics insurance proposition, Safe Drive. Consenting drivers are provided with an upfront discount of 10% along with a provision to get good driving habits rewarded with further discounts.

13 January 2020
Cambridge Mobile Telematics announced the launch of Claims Studio
CMT claims that Claims Studio, will speed up claim processing times and streamline the accident reporting system. It uses the existing telematics technology to automatically write narrative accident reports when it detects a crash. Insurers thus spend less time collecting information from drivers and third parties, and more time confirming facts and accurately assessing loss.

19 December 2019
Insurer HDI and telematics service provider Vodafone Automotive partner to create HDI Insiemea telematic policy 
Insurer HDI and telematics service provider Vodafone have partnered to create HDI Insieme, a telematic policy that offers greater protection to motorists through the evaluation of driving style and vehicle usage. HDI Insieme utilises Vodafone Automotive’s on-board telematics technologies and comes with a dedicated app for users. 

16 December 2019
Smartsurance, a Hungarian technology company, has launched its app-based, pay-as-you-drive insurance, Cristo
Cristo is an app by Smartsurance, providing pay-as-you-drive insurance to the Hungarian market. Smartsurance aims to use modern technology to simplify, speed up insurance and claim settlement, and promise fairer operation thanks to the Pay As You Drive principle, using a telematics tool. 

4 December 2019
OCTO Telematics to move into vehicle diagnostics with the acquisition of Nebula Systems
The Nebula Systems diagnostic solution grants deep access to vehicle data which gives OCTO the flexibility and ease of access to by using a unique VIN-specific configuration. This could have a substantial impact on fleet managers using the OCTO Fleet Telematics solution.

27 November 2019
Insurance Regulatory and Development Authority (IRDAI) has proposed the implementation of telematics insurance
A pilot has been set up to evaluate the current point system for traffic violations implemented by states and evolve standard point system considering each traffic violations the system of ‘pay as you drive’ and ‘pay how you drive’ covers based on data gathered from the insured vehicle and its driver — for motor vehicles.

28 October 2019
ALD announces a new telematics insurance solution in France
ALD Automotive has launched two new services in France at its recent BlueFleet event at the Autodrome of Linas-Montlhéry. ALD Automotive will use driver behaviour data to adjust the insurance premiums of its customers while renewing contracts.

18 October 2019
Swiss Re reveals to launch Coloride, a new UBI programme with Pioneer
Coloride will provide real-time driver warnings based on Pioneer’s map data and ADAS algorithms. The product can also be extended to a range of devices that collect acceleration data to identify and reconstruct an accident. Some of the devices feature an emergency button, which allows a driver to call for support following a traffic accident.

13 September 2019
Vodafone Germany starts to cooperate with Emil to launch mobile telematics insurance
Emil scheduled to launch a pilot in October and offer up to 20% discount through the Vodafone app for consenting customers

13 September 2019
Korean insurance development institute(KIDI) is developing an AI-powered claims management system
The platform is expected to use images from car accidents to estimate the repair cost, improve the insurance claim process and reduce consumer complaints.

22 May 2019
Vivo and Generali launch pay-as-you-drive auto insurance
Brazilian operator Vivo has partnered with Generali Brasil Seguros to market a personalized and flexible monthly car insurance. Through an application, Smart Auto evaluates the driver’s driving style and generates a discount for the contracting of car insurance. The good driver can be rewarded with an up to 30 percent discount on the price of their insurance.

21 May 2019
Customer in the UK are cancelling the insurance policies that they could not afford
Close to 20% of car insurance policies were cancelled in the London area in the past three years.

21 May 2019
Government fleet of California is going to get telematic supply from Geotab
This telematics solution will be available across all states.

20 May 2019
Telematics carriers in the USA have stopped selling users’ location data to aggregators
AT&T, Sprint, T-mobile and Verizon announced they are no longing selling users’ location data to aggregators.

20 May 2019
ERM advanced telematics developed a telematics box(StarLink EV) use for electric vehicles
This device has a backup battery and could analyse driver behaviour and identify accidents.

20 May 2019
Metroline and Turo partner together for a new pay-per-mile programme
40% of Turo’s hosts live in Illinois, California, Washington, Oregon, Virginia, New Jersey, Arizona and Pennsylvania.

18 May 2019
According to a survey of 2,111 motorists who have made a motor insurance claim in last 2 years, 20% of the motorists own a dashcam, and 18% of them used it for their insurance claim.

17 May 2019
Kasko2go’s UBI app can reduce the motor insurance premium up to 50%
This app uses blockchain technology to analyse driver behaviour and in the same time protect the user privacy.

17 May 2019
Motor insurance in Chicago’s cost differ by ZIP code & gender instead of driving record
Homeowners have less premium cost than the renters.

16 May 2019
TrueMotion & Unipol partner together to launch 1st smartphone-only UBI programme
Online motor insurance of Unipol group Linear Assicurazioni is launching the first smartphone-only UBI program BestDriver with TrueMotion.

16 May 2019
Allstate launches a new telematics app in Canada
Allstate is planning to launch its “personalised app for the modern driver” app.

16 May 2019
Cambridge Mobile Telematics’s new report suggests that a majority of Americans would like to have their insurance premiums based on safe driving habits
According to this report, 75% of US drivers prefer lower insurance premiums by safer driving behaviour.