UBI News
Usage-Based Insurance Provides Strong Benefits to Insurers, But Consumer Adoption Remains Low
Usage-based insurance (UBI) availability continues to grow for auto insurance customers, but customer adoption rates remain sluggish. According to the J.D. Power 2018 U.S. Auto Insurance Study, 42 ...
5 Auto Insurance Trends to Watch in 2018
Auto insurance is experiencing its most seismic shift since it began over 100 years ago. If 2017 shook up the industry with an increasing number of carriers adopting mobile telematics programs for ...
Product Innovation: How Usage-Based Cover Fills Workers Comp Gap for Rideshare Platforms
It was just three years ago when more than a dozen state insurance chiefs issued strongly worded consumer alerts declaring an insurance coverage gap for passengers in rideshare vehicles. Insurers, ...American Family Using Smartphone App in UBI Driver Safety Program
The average driver spends more than 10 percent of every trip using a smartphone, according to TrueMotion, a technology company that has teamed up with American Family to improve driver safety and ...
Usage-Based Insurance Apps: Opportunity or Obstacle?
It's been almost a decade since Progressive launched its usage-based insurance (UBI) program, Snapshot, aimed at more closely aligning driving behavior with auto insurance rates. And although other ...
Retention With Profit: Best Practices for Auto Underwriting
"Every generation needs a new revolution," noted Thomas Jefferson, and in present times it seems that several revolutions are joining forces in the insurance world. The recent innovations of ...
Risky Snapshot Drivers May See Rate Hikes, Progressive Says
Progressive Corp., the fourth-largest U.S. auto insurer, said it will begin increasing rates for some risky customers who participate in a program that allows the company to electronically monitor ...
Marrying Cars and Smartphones: Qualcomm Technology Could Assist Insurers
Qualcomm Inc., a maker of smartphone chips and software, recently unveiled fourth-generation LTE modems that will enable cars to stay better-connected wirelessly to cloud-based services via the Web. ...