In an effort to fine-tune its auto policy underwriting, an Ohio insurance giant said it will pay its policyholders $50 if they install a tiny device that records the speeds at which they drive.
Dave Huber, product development manager for Mayfield Village-based Progressive Direct, said policyholders are being contacted over the Internet with the aim of securing 15,000 participants willing to provide six months of data.
Those who agree to take part, he said, will be mailed a matchbox-sized device called a "TripSensor," which plugs into the onboard diagnostic port that manufacturers have included in all 1996 or newer vehicles since it was mandated by the U.S. Environmental Protection Agency for emission testing.
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