Fourth patent related to usage-based insurance

US company Progressive Insurance has received a fourth patent for system technologies used with its optional pay-as-you-drive insurance programme, a usage-based form of car insurance. U.S. Patent No. 8,090,598 relates, in part, to producing a driver safety score based on monitored driving data. Progressive’s usage-based insurance (UBI) scheme, Snapshot, is available in 39 US states and the District of Columbia. It creates a personalised car insurance discount based on customers’ driving habits.
March 23, 2012 Read time: 1 min
US company Progressive Insurance has received a fourth patent for system technologies used with its optional pay-as-you-drive insurance programme, a usage-based form of car insurance. U.S. Patent No. 8,090,598 relates, in part, to producing a driver safety score based on monitored driving data.

Progressive’s usage-based insurance (UBI) scheme, Snapshot, is available in 39 US states and the District of Columbia. It creates a personalised car insurance discount based on customers’ driving habits. Drivers who sign up for Snapshot receive a small device that plugs into the on-board diagnostic port of cars. The device records data from the vehicle and sends it to Progressive, which uses that data to calculate potential discounts.

“For more than 15 years we have invested a great deal into the research, development, testing and piloting of usage-based insurance programmes and will continue to do so,” said Glenn Renwick, Progressive’s president and CEO.

Related Content

  • US drivers receptive to usage-based auto insurance
    September 5, 2013
    US drivers are predominantly open-minded to purchasing usage-based auto insurance (UBI) policies, or pay as you drive insurance, according to a new survey by professional services company Towers Watson. The survey results are a clear indication that UBI is gaining momentum in the marketplace, with more consumers willing to let insurers monitor their driving habits with a telematics device in exchange for potential savings on their car insurance. Most (79 per cent) respondents to the UBI Consumer Survey
    Read More
  • Bit by bit insurers agree data protocol
    November 7, 2013
    Telematics technology may be a game changer for the automobile insurance industry but it comes with some caveats as Colin Sowman discovers. James Bielak, (P&C) program manager at the US office of ACORD (the Association for Cooperative Operations Research and Development), has an unenviable job: to devise a standard form of communicating vehicle data between telematics providers and insurance companies. To that end he has gathered together a group composed of insurers, telematics providers and other intere
    Read More
  • Cellcontrol partners with Pure Insurance on free distracted driving technology
    June 13, 2012
    Cellcontrol, a leading developer of distracted driving solutions, has launched what it claims is a first-of-its-kind programme with specialist member-owned insurer Pure (Privilege Underwriters Reciprocal Exchange) to help prevent distracted driving incidents caused by teenage drivers. As part of the pilot, Pure has offered complimentary devices and a full year’s subscription to Cellcontrol’s technology to drivers under the age of 18, and will be providing the technology at a discounted rates to the entire P
    Read More
  • Will mobile apps kick-start mobility pricing?
    January 5, 2016
    Thomas Hallauer from Ptolemus believes trials of connected road charging services will show the pay per mile concept will go much further than previously thought. Drivers are progressively becoming directly connected to the transport infrastructure and while the methods are changing, the innovation is really in the models rather than the technology.
    Read More

Highlighted Content