Buyers have historically viewed usage-based insurance (UBI) as a way to get rewarded for their safe driving habits with reduced premiums. But a new study from LexisNexis indicates that the driving data generated for UBI can itself be of value for consumers—especially those with teen drivers in their households.
According to the study, 45 percent of consumers are interested in UBI offerings that will keep them informed about the driving habits of those covered on their policies. That’s up 12 percent from 2013. Consumers are also showing increased interest in other value-adds associated with vehicle telematics — including automatic crash response, emergency roadside assistance and stolen vehicle tracking.
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