Ford Motor Co. expands U.S. user-based data services
The automaker announced it will grow its partnership with Wejo, providers of connected, electric and autonomous vehicle data.
Ford Motor Co. announced it will continue to build on its already robust commitment to maximizing user-based driver data with an expanded partnership with Wejo Group Ltd., a company that provides cloud and software solutions for connected, electric and autonomous vehicle data.
The automaker already has partnerships with Arity and Verisk to deliver “insurance ready” data and telematics services. This latest partnership is intended to provide insurers with a “better understanding of driving behaviors through connected vehicle data and insights,” the companies said in a press release.
Wejo and Ford previously announced a similar collaboration in Europe. Now they plan to grow the program in the U.S.
“Expanding our joint capabilities with Ford in the U.S. enables mutual benefit to both policyholders and insurers as auto insurance companies leverage connected vehicle data for good,” said Wejo Founder and CEO Richard Barlow said in the press release. “We’re excited to embrace the estimated $1.7 billion by 2030 total addressable user-based insurance market in the U.S. by working with vehicle OEMs to help insurance providers leverage actionable data insights. Our expanded partnership with Ford for end-to-end insurance is a significant step toward reinventing auto insurance for a smarter, safer future.”
Drivers will have to consent to making their data available to insurers. Those who choose to participate in the program may be able to access more affordable auto insurance coverage. The companies said these services also should help undercut insurance fraud.
“We are excited to expand our insurance data services relationship with Wejo into the U.S. market,” Ford Services Marketing Director Amy Graham said in a press release. “Connected vehicle data allows insurance providers to better understand driving behaviors which can result in discounts to policy holders and ultimately help reduce the total cost of vehicle ownership for our customers.”
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