Progressive’s Black Box: Big Brother is it good for the industry
Some drivers in Minnesota will soon be an additional passengers in their cars: Your insurance company. Progressive-Versicherungs-Gesellschaft is called “black box” technology to offer discounts based on the pilot, like many, when and how fast they are driving.
The pilot program, which is strictly voluntary, gradual Minnesota 5000 direct customers. The pilot is installed a data warehouse logger of the aircraft made available progressively their cars and then download the data to the insurance company for a maximum of 25 per cent savings.
The device, called sensor Trip is the size of a match Book and the corks on-board diagnostic systems Port found near the steering column of most cars after 1996. The sensor readings Trip kilometers, the time to start and stop the engine and the speed with which customers drive.
“Everybody is trying the program, if the data with us or not, is five per cent discount on renewal,” said William Perry, spokesman Mayfield, Ohio-based progressive. The pilot perhaps a discount additional 15 percent, as appropriate, to what extent and at what time of day, they drive. Another 5% discount is determined by the percentage of driving time or consumers in more than 75 mph.
The device also includes information on the disc brakes and acceleration for security purposes, which are not cheap.
The pilot program was signed on 9 August, 2004, and has been commercially available in 16 August. Customers registered for the program volunteers, Progressive insurance purchased on the Internet, are now receiving their Trip sensor devices. Perry said it is still too early to say exactly what kind of capital for income customers can anticipate their participation in the program.
“The big advantage is that consumers, there is another choice in how they purchase and use auto insurance,” said Perry. “If your model is driving so you can the benefits of these reductions, and you can save a great amount of money.”
Progressive carried out a similar test with 250 drivers Minnesota earlier this year. The company gave them a $ 25 chip and an incentive to try him for 30 days. Consumers are then completed a questionnaire about the program.
“The resonance of this test was very positive,” said Perry. “People are really happy to power, some have more control over the cost of their self-assurance and information they wanted aspect, learning their driving habits and see how statistics on their journey.
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