Alliances & AcquisitionsInsurance Telematics

Hyundai Motor America Selects Verisk to provide Usage-Based Insurance to its customers

Hyundai Motor America has selected Verisk, a data analytics provider to bring usage-based insurance (UBI) programs to Hyundai customers in the future meaning lower insurance premiums for drivers.

Hyundai Motor America has signed an agreement to join the Verisk Data Exchange. This agreement also means Hyundai will supply Verisk with driving data via its Blue Link connected car service from consenting car owners.

Together, both companies will help to reduce the cost of ownership for Hyundai owners and lessees. Lower insurance premiums will be especially helpful to younger shoppers looking at buying the all-new Hyundai Kona and Veloster.

Later this year, Hyundai owners and lessees will gain access to their Verisk Driving Score, a simple metric that assesses individual driving behavior. If a driver opts in, insurers can use the score from the Verisk Data Exchange to support usage-based insurance programs through a related rating rule available for use in 42 states and the District of Columbia.

Driving tips and reports can also be provided to customers to encourage safer and more efficient driving. Hyundai owner consent will be required to provide data to the exchange or individual insurers.

Show More

Related Articles