Towers Watson has launched DriveAbility 2.0 Score, an analytical scoring model designed for the automobile insurance industry. DriveAbility 2.0 Score includes a GPS version with location-specific factors in the risk model, as well as a non-GPS version.
Towers Watson said the DriveAbility 2.0 Score GPS combines telematics data with insured losses to develop an algorithm for converting driving data into metrics. The resulting vehicle operation score leads to price segmentation for the auto insurance industry. DriveAbility 2.0 Score uses data that allows for a continuous study of driving behaviors. It maps insurance claims to the exact moment they occur, leading to scores reflecting driving behaviors that actually cause claims.
Towers Watson added that DriveAbility 2.0 Score was developed based on an analysis of pooled telematics and insurance data collected from the Towers Watson UBI program. Towers Watson has been aggregating the data since 2010, compiled from the enrolled insureds of multiple insurers in the United States.
