| Title | GM to Leverage Driver Data as it Jumps Back into the Insurance Business | |
| Date | Thursday November 19 2020, @07:44PM | |
| Author | Fnord666 | |
| Topic | ||
| from the It's-for-your-own-good dept. | ||
GM to leverage driver data as it jumps back into the insurance business – TechCrunch:
General Motors is launching an insurance service, returning to a business that it abandoned more than a decade ago, but this time more in step with the connected-car era.
The service, called OnStar Insurance, will offer bundled auto, home and renters' insurance, starting this year with GM employees in Arizona. GM's new insurance agency, OnStar Insurance Services, will be the exclusive agent for OnStar Insurance. Homesite Insurance Group, an affiliate of American Family Insurance, will underwrite the program.
The services will be available to the public nationwide by the end of 2022, including people who drive vehicles outside of GM's portfolio of Buick, Cadillac, Chevrolet and GMC branded cars, trucks and SUVs. The aim, however, is to leverage the vast amounts of data captured through its OnStar connected car service, which today has more than 16 million members in the United States.
GM's pitch is that this data can be an asset to drivers and help them cash in on lower insurance rates based on safe driving habits.
"Our goal is really to create greater transparency and greater control for our customers in influencing what they pay for insurance and their total cost of ownership on the vehicles," Russell Page, GM's head of business intelligence said in a recent interview.
The data play is substantial. The company has logged more than 121 million GB of data usage across the Buick, Cadillac, Chevrolet, and GMC brands since the launch of 4G LTE in 2014.
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printed from SoylentNews, GM to Leverage Driver Data as it Jumps Back into the Insurance Business on 2024-04-23 18:32:02