Despite its different approach, the goal of rewards based UBI program remains the same: improve driving behavior to make roads safer for everyone. (Credit: JustSuper/Adobe Stock)
It should come as no surprise that consumer interest in usage-based insurance (UBI) programs increased as an effect of the pandemic. More time at home, fewer hours in the car commuting to the office and an overall embrace of digital capabilities were all factors inspiring an uptick in consumers' willingness to embrace UBI offerings. The idea that "I drive less so I should pay less" encouraged more than 54% of drivers to say they felt comfortable sharing information on miles driven, according to CCC Information Service Inc.'s 2021 Crash Course study.
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.
