Verisk has entered into an agreement with TrueMotion to offer integrated telematics solutions for insurers that combine TrueMotion’s mobile data with Verisk’s driving behavior analytics.
To develop the new solutions, Verisk will receive driving data collected through TrueMotion’s smartphone telematics platform and apply its Verisk Driving Score(TM), which is currently filed and ready for use in 43 states. The agreement will help midsize auto insurers, among other insurers, quickly deploy or enhance existing usage-based insurance (UBI) programs.
As part of this agreement, Verisk will score driving behavior data-a highly predictive measure of risk-to enable multiple use cases for insurers. This includes potential good-driver discounts, driver feedback, and other forms of customer engagement.
The TrueMotion smartphone telematics platform gives insurers actionable insights to apply scoring to their customers’ driving behavior via just a phone. It uses a phone’s sensors and machine learning to accurately identify when a person is driving, how the person is driving, and if the person is distracted while driving. Insurers working with Verisk can deploy TrueMotion’s patented technology through a white label mobile app. Customers simply need to download the insurer’s app and drive.
Source: Press Release