BOSTON (PRWEB) November 30, 2017
Nationwide is an industry leader in usage-based insurance technology. Through the SmartRide® Mobile App, safe driving habits are rewarded and members can save money on their auto insurance premiums. Staying at the forefront of technological innovation, Nationwide has selected TrueMotion to enhance the SmartRide program by collecting critical data about the prevalence of distracted driving. TrueMotion is the leading provider of turnkey, smartphone Usage Based Insurance (UBI) and Behavior Based Insurance (BBI) technology. Through a Software Development Kit integration within the existing SmartRide® Mobile App, TrueMotion’s smartphone-based service will provide granular data about frequency and type of distraction. TrueMotion’s technology does not collect content, but rather smart phone interaction while driving.
The partnership will deliver key information about the prevalence of distraction among drivers that can be used for research and development purposes, such as determining whether distracted driving is predictive of future loss. In the future, this information may ultimately help Nationwide better evaluate and modify its risk profile, and provide members with a new level of awareness about how to become a safer driver.
“Although the federal government reports on the number of injuries and deaths related to distracted driving each year, the reality is that these numbers are greatly undercounted, because until now there hasn't been a way to connect crashes and claims with distracted driving,” said Ted Gramer, CEO of TrueMotion. “Distracted Driving is an epidemic, and the only way to treat it is through data, which partnerships like ours with Nationwide are designed to generate. We hope this relationship will help further the understanding of the real impacts of distracted driving, and help pave the way for a long-term solution.”
“As a leader in digital innovation for the benefit of our members, Nationwide is committed to investing in technological capabilities to help drivers become safer and less distracted on the road,” said Teresa Scharn, Nationwide’s Associate Vice President for Product Development. “It is critical for insurers to gain a better understanding of the impact of distracted-driving. Collecting data through our partnership with TrueMotion will provide us with information that can help us better understand the effect of distraction. These insights will ultimately help our members establish safer driving habits.”
The companies initially deployed the integrated system in the fourth quarter of 2017.
TrueMotion offers a fully hosted, turnkey solution for insurers that includes a downloadable mobile app that captures and helps improve driver behavior; a big data platform that provides clean, comprehensive driving records, driver scores and analytics; and a management and analytics dashboard that allows an insurance company’s UBI team and customer service representatives to deploy, manage and track a UBI program.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit http://www.nationwide.com.
Headquartered in Boston, Mass., TrueMotion combines the power of mobile technology, machine learning and data science to reduce the number of automobile crashes and fatalities. Its patented technology uses the sensors built into smartphones to accurately identify drivers and score their overall driving habits, including distracted driving. Up to 75 percent of drivers who use TrueMotion technology reduce distracted driving and other risky behaviors. The company provides an enterprise version of its technology to leading insurers. More information is available at goTrueMotion.com.