Live Insurance News

Usage based insurance clears man of murder charges

July 5, 2013July 3, 2013 Julie Campbell

The device for the man’s auto coverage program helped to prove that he could not have been the culprit. A usage based insurance device used by a man in northeastern Ohio has helped to prove to the courts that he could not have been guilty of the suffocation death of his daughter, who was seven months old. The man was acquitted in a Cleveland court partially because of the data in his UBI device. Michael Beard, 28 years old, was acquitted by a jury of murder as well as other…

Usage based insurance intellectual property from Progressive can now be licensed

January 25, 2013January 24, 2013 Julie Campbell

The insurer is specifying that it is the intellectual property and not the software in the program. In December 2012, Live Insurance News reported that Progressive would be licensing the intellectual property for its usage based insurance program, and that other carriers would start being able to use it as of 2015. Many have wondered whether the program also includes the software for the UBI coverage. For this reason, the insurer has issued an additional statement to clarify that it is only the intellectual property relating to the usage based…

Usage based insurance is seeing stiff competition in auto industry

July 25, 2012April 30, 2013

Insurers scramble to take the lead in this rapidly growing market. Sprint’s recent announcement that it was stepping into the usage based insurance sector of the auto coverage industry was a clear indicator of the sudden and rapid growth of this market segment. The battle has already started among UBI programs even before many consumers know they exist. Many drivers have yet to know that this type of program exists. It is for just this reason that insurers are working so hard in the race to become the top usage…

Usage based insurance is Sprint’s next step in wireless

July 22, 2012July 22, 2012 H. Cutner

The company will be offering tracking technology to auto insurers. Sprint, the American wireless giant, has announced that it will providing usage based insurance tracking technology to auto insurers with programs that monitor the driving habits of their policyholders/ The announcement was made regarding Sprint’s new Integrated Insurance Solutions unit. The usage based insurance programs in which the technology will function are popping up all over the country. Among them, Progressive’s Snapshot has been among the most popular. The technology tracks various driver behaviors, such as the distance the car…

Usage based insurance offered by Progressive to non customers

July 13, 2012July 13, 2012 Julie Campbell

Insurer is expanding its program to individuals who want to save on their policies. The Snapshot usage based insurance program at Progressive Corp. has already proven to be highly popular as hundreds of thousands of drivers have agreed to allow the company to track their driving behaviors in order to gain the opportunity to save on their coverage, and now this same chance to save is being offered to non customers. Snapshot auto insurance is now available to anyone who would like to track their behaviors behind the wheel. Progressive…

Progressive makes insurance news with opportunities for drivers to save

April 21, 2012April 21, 2012 Julie Campbell

Progressive has made several announcements regarding ways in which it is making auto insurance coverage more affordable. For example, it has announced that drivers in West Virginia will now be seeing lower premiums for their car insurance. According to Allison Feakins, the West Virginia product manager for Progressive, “We make it easy and affordable for consumers to get car insurance.” She explained that the company is regularly reviewing the rates that it charges and that the market conditions have now permitted some changes that will assist individuals in saving money. Moreover,…

Patent for usage-based insurance goes to Progressive for the fourth time

January 10, 2012January 10, 2012 Nordstrom

Progressive Insurance has announced that it has received a patent for usage based system technologies for the fourth time for its Pay As You Drive program, which is available to drivers in the United States. The program involves using a driver’s safety score to change his or her premiums based on monitored driving data and is now patented under U.S. Patent No. 8,090,598. The usage based insurance (UBI) program at Progressive is called Snapshot, and it is now available to drivers in the District of Columbia and 39 other states.…