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By valuing individual policyholder preferences and establishing proper guidelines in data collection and analysis, insurers can offer a wide range of UBI options that appeal to everyone. (Photo: Thinkstock)

Many usage-based insurance (UBI) programs for auto typically claim that policyholders can reduce their premiums by sharing their driving data with insurers and practicing safe driving behavior. However, there’s no one-size-fits-all approach to UBI, because the data provided by policyholders and the corresponding value determined by insurers often vary significantly by insurer and program. 

To illustrate this point, consider several hypothetical policyholders as well as the UBI data types and benefits most relevant to them. To obtain a greater benefit from UBI programs, guidelines need to be established to accommodate the often dissimilar needs of a diverse group of potential policyholders.

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