We’re excited to announce that we’ve teamed up with Verisk to offer an enhanced telematics solution. The solution combines our mobile data with Verisk’s driving behavior analytics. It will help insurers bring UBI programs to market faster.
The solution will be critical for mid-tier insurers looking to launch a UBI program. UBI programs present many challenges for insurers. It’s difficult to develop a proprietary scoring algorithm that works across multiple sources of driving data, including connected cars and mobile apps. It’s cost-prohibitive to launch a mobile solution in-house. An insurer needs IT and data science resources to build apps, integrate scores, and automate logistical processes. Filing a proprietary score with regulators can be a difficult process.
Verisk will receive driving data TrueMotion collects through our smartphone telematics platform. It will apply its Verisk Driving Score™ to the smartphone driving data. Verisk’s score is filed and ready to be used in 43 states.
Insurers working with Verisk can deploy TrueMotion’s patented technology through a white label mobile app. Insurance customers just need to download the insurer’s app and drive.
Want to learn more? Check out the full press release here.