Nationwide has hired Pete Frey as commercial telematics director, a newly created position.
Frey's charge is to develop and oversee a usage-based insurance program and connected business fleet platform, according to Nationwide, which cited his extensive history in insurance telematics. He comes from American Family, where he worked for 15 years. While there, he developed a UBI program and oversaw product management for two telematics service providers focusing on fleet management and connected car platforms.
"Pete has been a leader in the telematics arena with deep industry knowledge and experience," said Tony Fenton, VP of underwriting and product for commercial auto, casualty and new product development. "He will ensure that Nationwide establishes a world-class platform that provides benefits and value to commercial policyholders."
Nationwide is increasing its focus on telematics. The company recently announced enhancements to its SmartRide usage-based insurance program for the consumer market. Working with insurtech TrueMotion, Nationwide is gathering information on smartphone interaction while operating a car, getting insight into the frequency and types of distracted driving among policyholders. The company is also actively investing in analytics for fraud detection and exploring blockchain. In addition, Nationwide also announced a $100 million fund for insurtech investment last year.
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