Usage-based insurance (UBI), once considered a fringe auto product by some, has found its way into the spotlight. Changes in mobility trends during the pandemic have increased consumer demand for UBI. In response, many insurers are adopting UBI as a strategic imperative, and seeking this personalized behavioral data to enable more sophisticated and dynamic pricing.
To support the telematics journey, Verisk is excited to introduce DrivingDNA®, the new brand for our flagship point-of-sale telematics products. Drawing from millions of connected vehicles enrolled in the Verisk Data Exchange, hundreds of billions of trip-miles from consenting drivers, and alliances with numerous leading automakers, these purpose-built solutions have a demonstrated history of helping insurers overcome common product development and operational challenges.
DrivingDNA combines Verisk’s unmatched data attributes, advanced data management and predictive analytics capabilities, and role as a trusted advisory organization. Together, these products help insurers harness the power of personalized driving behaviors to deliver accurate, individualized pricing:
Personalized driving traits are core to the UBI value proposition and DrivingDNA makes it easier for insurers to harness the power of these individualized telematics insights. Just as DNA forms the blueprint for organic life, DrivingDNA reveals distinct characteristics of driving risk through normalized telematics data and scores at point of sale.
In the dynamic world of telematics and usage-based insurance (UBI), auto insurers must stay on the cutting edge to achieve business performance and meet evolving consumer expectations.
Watch our free webinar to learn how DrivingDNA can help you attain a competitive edge in the dynamic world of usage-based insurance (UBI). We’ll explore:
