Back in December, Progressive Insurance announced a licensing program for the carrier's intellectual property related to usage-based car insurance programs that will begin in 2015. As a follow-up to that announcement, Tom Hollyer, Progressive's national product development leader, addressed several issues about Progressive's licensing plans via email.
Progressive began development of its usage-based insurance program over 15 years ago and Hollyer points out that during that time the product has changed dramatically.
"We've poured years of research into advancing and refining our technology," he says. "We brought Snapshot to the mass market in 2011 and it's the industry leader in UBI, accounting for over $1 billion in premiums written." Snapshot is available in 43 states, adds Hollyer.
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