Travelers UBI launches in Canada, MassMutual makes $3.5 billion buy: Roundup
February 1, 2021 5:10 AM
Travelers Canada has launched its version of IntelliDrive , the carrier's usage-based insurance app. It collects and assess behaviors like hard braking, rapid acceleration, speed, distraction and the time of day customers drive in return for premium discounts. It also provides users with a dashboard to track their performance, including how many consecutive drives they've gone on without interacting with a smartphone.
MassMutual has agreed to buy Great American Life Insurance for $3.5 billion, subject to adjustment by closing. Great American Life will operate as a subsidiary of MassMutual; it had been one of American Financial Group. MassMutual cited Great American's distribution capabilities in explaining the buy. “With MassMutual’s enduring financial strength, broad investment capabilities, and end-to-end digital experience, we will build on the outstanding leadership position that the talented and dedicated Great American Life team has built over generations, enabling us to help even more people secure their future and protect the ones they love," said Roger Crandall, Chairman, President and CEO, MassMutual.
Rideshare insurer Buckle has launched in Tennessee, its second state after Georgia. Its platform uses non-traditional data available on gig workers, like their driving track records, to help the emerging risk class get more comprehensive coverage. “Buckle is giving gig rideshare drivers long deserved peace of mind by making affordable auto coverage, whether on or off the clock, easily accessible in one comprehensive policy,” said Sharon Fernandez, Head of Insurance at Buckle.