United Services Automobile Association (USAA) and Progressive Insurance have entered a licensing agreement for intellectual property related to Progressive’s usage-based car insurance programs.
“We have found that key driving behaviors predict the likelihood of a claim far better than traditional insurance rating variables alone,” said John Sauerland, Progressive’s personal lines group president. “As insurers realize the benefits UBI offers consumers, it’s critical they deliver programs that reflect responsible intellectual property practices, which includes licensing the appropriate IP.”
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