UBI insurtech Metromile partners with Ford
Usage-based insurance carrier Metromile has reached an agreement with Ford to offer personalized car insurance to its customers via the manufacturer's connected-car platform.
Owners of eligible Ford vehicles will be able to opt in and send their miles driven to Metromile. The company anticipates that policyholders could save more than $700 based on a survey of usage.
Those who choose to sign on get full access to Metromile's suite of products, including its AVA artificial-intelligence claims platform, stolen vehicle tracking and alternate-side parking reminders.
"Ford will help us rapidly evolve how we price insurance, measure real-time risk, and put drivers in control of an individualized pay per mile rate based on how and how much you drive. Connected vehicles like Ford's — packed with sensors and safety features — open up myriad opportunities for us to leapfrog ahead in each of these areas," Metromile CEO Dan Preston wrote in a blog entry.
"Connected vehicles have the potential to deliver great benefits to Ford customers, including the ability to help lower their insurance premiums,” added Alex Purdy, Director of Business Operations, Enterprise Connectivity, Ford Motor Company, in a statement. “Metromile’s approach to insurance is an excellent example of how connected vehicles can help people save money by simply paying for only what they use.