28/10/2020

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Ford and Verisk to offer telematics data to insurers | Automotive Industry News

Verisk, a facts analytics service provider, mentioned Ford Motor experienced joined the Verisk Details Exchange enabling...

Verisk, a facts analytics service provider, mentioned Ford Motor experienced joined the Verisk Details Exchange enabling homeowners of Ford and Lincoln motor vehicles quickly to have quick entry to utilization-dependent insurance policies programmes from the numerous US auto insurers that connect to the trade.

Usage-dependent insurance policies (UBI) can give drivers bigger transparency and command over their insurance policies costs. These courses generally offer you personalised risk-free driving discounts that can help individuals preserve cash and promote road basic safety. The new telematics integration with Verisk will make it basic and easy for consenting drivers of linked Ford motor vehicles to securely share their driving facts to unlock this kind of offers and rewards with no more hardware or apps essential.

“Ford is fully commited to connecting our clients to precious services that can help them cut down their overall price tag of ownership and get much more out of their Ford car or truck – usage-dependent insurance policies is a fantastic chance to do that,” mentioned Alex Purdy, the automaker’s director of business enterprise functions, organization connectivity. “Verisk’s capability to ingest Ford car or truck facts and present insurance policies ready info offers insurance policies suppliers entry to utilization dependent insurance policies items without having the want to manage any more car or truck hardware.”

The trade takes advantage of innovative, proprietary analytics to refine driving telemetry from linked Ford motor vehicles into normalised, insurance policies-ready info, which include Verisk’s ranking and scoring.

With the driver’s consent, insurers can entry the telematics facts they want from Ford motor vehicles to generate an accurate UBI price reduction.

The facts trade is an Online of Things (IoT) and telematics system. With 6.6m motor vehicles and 175bn miles of driving facts, the trade is mentioned to be just one of the premier of its kind and proceeds to develop by two hundred,000 new motor vehicles every month.