Guidewire TL
Follow Us
ITA MEMBERSHIP

MOBILITY

MOBILITY

Verisk, Driveway Software Alliance to Offer Smartphone Telematics Solution

Staff Writer | December 07, 2016

Verisk Insurance Solutions announces a strategic alliance with Driveway Software. The companies will jointly develop a comprehensive smartphone telematics solution for auto manufacturers, their customers, and participating insurers in U.S. and global markets through the Verisk Data Exchange.

The jointly developed solution will combine the Driveway smartphone telematics platform for data collection and driver engagement with the Verisk Data Exchange to apply driver scoring and provide a direct connection for consumers to participating insurers. The solution will leverage Driveway's patented battery-efficient trip-capture technology and Verisk's expertise in insurance analytics and scoring plus its proven success in filing UBI rating rules.

 Verisk launched the Exchange in July 2016. Consenting connected-car owners will have the option to contribute their driving data and seamlessly take advantage of insurers' usage-based insurance (UBI) programs typically designed to reward safe drivers. General Motors is the first auto manufacturer to sign on to the Verisk Data Exchange.

By leveraging Driveway's smartphone-based solution, automakers can bring the benefits of telematics to their millions of existing customers who are not leveraging connectivity in their car. 

"Most original equipment manufacturers are implementing connected-car solutions in new vehicles," says Jim Levendusky, vice president of telematics at Verisk Insurance Solutions. "However, many vehicles without embedded connectivity cannot deliver a connected-car experience to their drivers. The Driveway/Verisk telematics smartphone solution will close this gap."

The Verisk Data Exchange also assigns consumers a driver risk score, generally similar to a credit score, which they can use to demonstrate their responsible driving history and to request that their car insurance premiums be adjusted accordingly.

"The Exchange provides automakers a one-stop solution to help their customers get the benefits of UBI," says Mike Simmons, CEO of Driveway Software. "Rather than building and managing relationships with hundreds of insurers, automakers can have a single point of contact in Verisk Insurance Solutions, which has long-standing relationships throughout the insurance industry." 


Featured articles

SMA Summit MR

Guidewire MR

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

WEB EVENTS

ITA is pleased to present the 2014 Webinar Series. We have many topics for you to choose from and attendance is open to all ITA members. The webinar topics are current and exciting — ranging from predictive analytics to telematics and will focus on the direction insurance carriers need to follow for the future. All webinars are presented by insurance IT professionals along with some of the leading analysts and consultants in the field. There is no cost to attend an ITA webinar. For more information and to register for the webinar, click the “title” of the webinar below.

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News