Usage-based car insurance is becoming increasingly popular as drivers become more comfortable with sharing data in return for discounted rates according to Gwenn Bezard, co-founder and research director at financial research firm Aite Group. The company has been testing a new feature that allows users to share their driving habits on the app using an iPhone or Android phone.
Usage-based car insurance is becoming increasingly popular as drivers become more comfortable with sharing data in return for discounted rates according to Gwenn Bezard, co-founder and research director at financial research firm Aite Group. Figures show that 30% of new customers at Nationwide and Progressive are choosing usage-based policies that base rates on driving records obtains from telematic devices rather than conventional credit scoring.