From Progressive's Snapshot to Liberty Mutual's RightTrack, mobile driving apps for auto insurance policyholders are becoming more ubiquitous across the industry.
Arity, a mobility data and analytics company, conducted a survey in May 2019 and May 2020 to understand how consumers feel about their insurers using telematics driving behaviors to calculate auto coverage prices. The survey's findings show increased comfortability with telematics today than one year ago.
"Because consumers are typically very sensitive to the cost of their insurance, historically, they worried that in sharing their driving data they might end up being charged more, either because they drive more than average or worry they might engage in riskier driving behaviors," Louisa Harbage-Edell, director of market intelligence and strategy for Arity, told PropertyCasualty360.com. "So the increasing comfort is likely a signal that customers are now seeing more value in telematics that counterbalances those concerns and are seeing the benefit of sharing their driving data in a new, clearer way now."
Arity's Consumer Comfort with Telematics Survey asked respondents to use a Likert scale to rate how comfortable they are with the five most common factors used in telematics programs today. Scroll down the infographic below to reveal the survey's results.
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