Nirvana Insurance — an insurance startup taking a new approach to insurance products for commercial fleets using artificial intelligence, telematics, internet-of-things technology and 15 billion miles of trucking data to calculate risk models — is taking on something else: new funding.
Tag: telematics
Study: 78% in Commercial Auto Insurance Business Researching Telematics
Approximately four of five (78%) commercial auto insurers are in the research phase of preparing for usage-based insurance products, but are not ready to implement the technology.
USAA Announces Plans to Acquire Insurtech Company Noblr for Usage-Based Insurance
USAA announced today that it plans to acquire insurtech company Noblr, Inc. to offer usage-based insurance (UBI) to its members. UBI products offer a lower premium, along with a mileage variable, by combining usage and behavioral factors to create pay-as-you-go personalized pricing and opportunity for savings and rewards. This is important for USAA’s military service… Continue reading USAA Announces Plans to Acquire Insurtech Company Noblr for Usage-Based Insurance
USAA Launches Telematics App SafePilot in Seven New States
USAA members are showing an increased interest in behavior- and usage-based insurance programs. To accommodate growing demand, today USAA is announcing the expansion of its SafePilot program in seven new states. The new states include Alabama, Colorado, Minnesota, Nebraska, Nevada, Oklahoma and Utah, with the program now offered in 23 states total. The USAA SafePilot™… Continue reading USAA Launches Telematics App SafePilot in Seven New States
Usage-Based Insurance Market Size to Reach $77.25B by 2026
Usage-based insurance is a telematics-based insurance service in which premiums are based on the driving behavior of consumers. The global usage-based Insurance market size is projected to reach $77.25 billion by 2026, from $25.46 billion in 2020, at a CAGR of 20.32% during 2020-2026. These insurance policies leverage the latest machine-to-machine technologies to capture dynamic… Continue reading Usage-Based Insurance Market Size to Reach $77.25B by 2026
Swiss Re and Pioneer to Launch Innovative Telematics Solution for Insurers
Swiss Re and global car electronics company Pioneer have co-developed an innovative telematics solution that provides insurers with better and more personalised risk assessment, while supporting safer driving behaviour. The combined solution will be integrated in Swiss Re’s Coloride app and is set to be launched globally early next year. Swiss Re’s Coloride is one… Continue reading Swiss Re and Pioneer to Launch Innovative Telematics Solution for Insurers
Geico Joins Rival Insurers in Tracking Drivers
Warren Buffett’s Geico now wants to track drivers, just like some of its biggest competitors do. Geico has launched a telematics offering, called DriveEasy, in certain states, Credit Suisse Group AG analyst Mike Zaremski said in a research note last week. A phone app tracks driving habits and gives individuals a score and tips, according… Continue reading Geico Joins Rival Insurers in Tracking Drivers
Business Owners Combating Distracted Driving with Telematics Technology
Business owners who put quite a bit of trust in the hands of their fleet drivers to deliver on time and protect their vehicles hope something else isn’t consuming driver attention – distracted driving. The National Highway Safety Administration reports that over 3,000 people were killed in motor vehicle accidents as a result of distracted… Continue reading Business Owners Combating Distracted Driving with Telematics Technology
An Inside Look at the Post-Digital Age for Insurers: Accenture Report
Insurance organizations are taking their first steps into a new age—one that tailors itself to fit every moment. It’s an era when insurance products and services evolve and adapt according to customer behaviors and context—from hyper-personalized marketing to telematics-driven auto insurance that rewards safe driving to parametric travel policies that instantly pay compensation when a… Continue reading An Inside Look at the Post-Digital Age for Insurers: Accenture Report