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Two insurers are piloting usage-based insurance with Cambridge Mobile Telematics’ technology.
Electric Insurance has partnered with Cambridge on the “Great Driver” smartphone app. The app is currently only availabile in Ohio. It analyzes users’ driving skills and environment and provides actionable, individualized feedback to help improve driving habits and safety. Drivers are assigned a score that can potentially provide a discount based on individual skills and risk levels.
“Our customers expect us to keep pace with technology and provide a great overall value,” said Doug Seymour, president and CEO of Electric Insurance. “Great Driver is an innovative way for customers to get feedback on their driving habits, drive more safely and influence the cost of their insurance premiums.”
Aloi Nissay Dowa Insurance, a Japanese insurer, also is launching a usage-based insurance program. That company has selected Cambridge’s DriveWell software to power the initiative. The companies worked together in the past on a pilot of the vendor’s Visual Drive version of the software, which was deployed across Aloi Nissay’s company vehicles.