In an industry first, Progressive Insurance and startup Zubie are collaborating on a new telematics solution that can provide savings to customers based on their safe driving habits.
Zubie has created a device that plugs into any vehicle and tracks how well (or poorly) an individual is driving. Drivers merely need to plug the Zubie Key into their car's on-board diagnostic port and it will feed information directly to the driver's Android or Apple smartphone. This encourages drivers to make safer and smarter decisions on the road (like slowing down for yellow lights instead of speeding through an intersection).
The new partnership will enable customers to share their information through Progressive's Snapshot® program in order to earn discounts based on their driving habits.
Dave Pratt, general manager of usage-based insurance for Progressive says, ""With Snapshot, we're always looking for ways to help more people participate in the program and save money on their auto insurance…By using the driving data that the customer is already sharing with Zubie, we make the process even easier for customers."
Zubie CEO Tim Kelly says the companies "share the same vision of making the road safer by arming customers with the right tools to make smart decisions about their driving habits."
Zubie users pay a monthly fee for the device, but the information collected provides more than just driving data. It also offers battery monitoring, as well as trouble code reporting and estimating, all in real-time through cellular connections. The company, which specializes in the Internet of Things technology, recently raised $8 million in funding, led by Nokia Venture Partners and Magna International.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
