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New Usage-Based Insurance and Driving Score Help Hyundai Customers Save MoneyFOUNTAIN VALLEY, Calif., March 29, 2021 /PRNewswire/ --
Hyundai Motor America introduces the Usage Based Insurance (UBI) program and Driving Scoreii to promote safe and efficient driving habits and potentially save owners hundreds of dollars on their auto insurance. Through leading global data analytic provider, Verisk (Nasdaq:VRSK), Hyundai drivers are now able to share their driving behavior habits with insurers to potentially receive discounts and lower insurance premiums – which is especially important to younger shoppers looking at models such as the all-new Hyundai Elantra and Tucson. UBI and the Driving Score are now live on MyHyundai.com New Usage-Based Insurance and Driving Score Help Hyundai Customers Save Money "As demand for more transparent auto insurance pricing grows, usage-based insurance is a powerful way for Hyundai drivers to have greater control over their insurance costs," said Manish Mehrotra, executive director, Digital Business Planning and Connected Operations, Hyundai Motor North America. "Providing our drivers with engaging tools that can promote safer driving habits and unlock new insurance discounts is awesome. Our owners expect this kind of technology and want to pay the right amount. No one wants to pay more than they actually should." How It Works The Driving Score (calculated each week) ranges from 0-100, worst-to-best. Tips are provided on MyHyundai.com for owners to improve their driving habits, become safer drivers, increase fuel economy, and improve their driving scores. For example, a driver could improve their score by braking smoothly, less late night driving and accelerating gently. Drivers of Blue Link connected Hyundai vehicles can share their driving habits to potentially earn instant behavior-based premium discounts from some of the top U.S. auto insurers that connect to the Verisk Data Exchange™. The Exchange is one of the largest of its kind with more than 240 billion miles of driving data from consenting drivers. Hyundai owner consent is required to provide data to the Exchange or individual insurers, and they can opt out at any time.iv "The Verisk Data Exchange was built to make usage-based insurance easier and more accessible," said Karthik Balakrishnan, senior vice president and genral manager of Verisk's telematics business. "Hyundai shares this vision and together, we look forward to this new collaboration and its many benefits for consumers as well as auto insurers." The Verisk Data Exchange empowers auto insurers to access the behavioral information they need to calculate discounts instantly during the quoting process through two leading point of sale solutions, the Verisk Driving Score™ and Verisk Driving Data™. Using advanced analytics and data refinement capabilities, insurers benefit from turnkey access to Hyundai telemetry to support UBI product development and growth. Numerous auto insurers have already connected to the Verisk Data Exchange™, including three of the ten largest U.S. carriers. Verisk Data Exchange Hyundai Blue Link More details on specific Blue Link-equipped vehicles from consenting car owners is available at www.hyundaibluelink.com. Verisk Hyundai Motor America Please visit our media website at www.HyundaiNews.com Hyundai Motor America on Twitter | YouTube | Facebook | Instagram i This is not an offer to sell auto insurance. Usage Based Insurance (UBI) program discounts will vary based on driving behavior and are only available from third party insurance companies. May not be available in your area. See your automobile insurance provider to determine if they offer a UBI program and to learn more about the program details and qualification criteria. ii You will only receive a Verisk Driving Score if you are opted-in to sharing driving data with Verisk. The driving score is based on a five-factor rating (see MyHyundai.com Driving Score FAQ for how the driving score is calculated). Some insurers perform their own proprietary driving analysis based on the driving data that you may consent to sending them. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of the driving score. The driving score is intended for informational purposes only. iii Your data is shared with Verisk and you will receive a Verisk Driving Score only if you are opted into data sharing. Some insurers have their own proprietary driving score calculations based on the driving data that you consent to sending them. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of the driving score. The driving score is intended for informational purposes only. iv You can share your anonymized driving data with participating insurance companies of your choice, and provide them with the opportunity to possibly lower your insurance rate based on detailed driving information. Your contact information and vehicle identifiable information will only be provided to an individual insurance company if you connect with them from the Insurance Notification Center, at which point you will agree to and be subject to the insurance provider's privacy policy. You may receive information and offers directly from the insurance companies that you choose to share your data with. Neither HMA nor any of its affiliates are auto insurance companies, brokers or agents.
View original content to download multimedia:http://www.prnewswire.com/news-releases/new-usage-based-insurance-and-driving-score-help-hyundai-customers-save-money-301257335.html SOURCE Hyundai Motor America |