(Reuters) – Progressive Corp already has hundreds of thousands of auto insurance customers who willingly let the company track their driving behavior in exchange for the chance at substantial discounts, and on Monday the company opened the door to competitors' clients as well.
Progressive, the fourth-largest U.S. auto insurer, said it would open its "Snapshot" usage-based insurance program to anyone who wanted to track how well they drive.
Based on 30 days of driving data, people can earn a prospective discount on their insurance premiums, which Progressive would then apply if the user decides to become a customer. Historically, the insurer said, roughly 70 percent of people who sign up for the program end up earning a discount.
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