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User Based Insurance Global News
The PTOLEMUS research team is tracking important user based insurance developments on a daily basis, take a look to see what the latest news is in UBI.
Below, we share some of our key findings, but you can find more in our quarterly UBI dashboard
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.
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.
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.
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.
Emil scheduled to launch a pilot in October and offer up to 20% discount through the Vodafone app for consenting customers
The platform is expected to use images from car accidents to estimate the repair cost, improve the insurance claim process and reduce consumer complaints.
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.
Close to 20% of car insurance policies were cancelled in the London area in the past three years.
This telematics solution will be available across all states.
AT&T, Sprint, T-mobile and Verizon announced they are no longing selling users’ location data to aggregators.
This device has a backup battery and could analyse driver behaviour and identify accidents.
40% of Turo’s hosts live in Illinois, California, Washington, Oregon, Virginia, New Jersey, Arizona and Pennsylvania.
This app uses blockchain technology to analyse driver behaviour and in the same time protect the user privacy.
Homeowners have less premium cost than the renters.
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.
According to this report, 75% of US drivers prefer lower insurance premiums by safer driving behaviour.