Arity and Ford team up to enable more efficient usage-based insurance offerings
Arity has partnered with Ford Motor Company to offer usage-based insurance (UBI) programs for owners of connected Ford and Lincoln vehicles. This collaboration allows insurers to utilize vehicle data to improve pricing accuracy based on individual driving behaviors, promoting safer driving. The integration eliminates the need for additional hardware, ensuring a seamless experience for drivers. With Arity's advanced analytics, insurers can provide customized pricing and incentives, enhancing customer relationships. The solution leverages Ford's telematics and Arity's data capabilities to enhance the UBI market.
- Collaboration with Ford enhances Arity's presence in the usage-based insurance market.
- Elimination of additional hardware requirements simplifies access for consumers.
- Personalized insurance offerings based on driving behavior can lead to better customer relationships.
- None.
CHICAGO and DEARBORN, Mich., Feb. 19, 2021 /PRNewswire/ -- Arity, a mobility data and analytics company, announced that it is teaming up with Ford Motor Company to enable any participating insurer the ability to deliver simple and secure usage-based insurance (UBI) programs to eligible connected Ford and Lincoln vehicle owners.
Usage-based insurance programs give drivers access to personalized driving data directly from the vehicle while allowing insurers to price more accurately in return for safer driving on the roads, all without having to download an additional app or plug in an OBD (onboard diagnostic) device. Arity's driving analytics and insights make this possible, which derive driving risk seamlessly from the vehicle's data, benefitting both insurers and drivers.
"We continue to invest in embedded vehicle connectivity to help our customers get as much value from their vehicles as possible," said Alex Purdy, Director of Business Operations, Enterprise Connectivity, Ford Motor Company. "Arity helps make this possible by enabling insurers to offer customers with eligible Ford vehicles more personalized insurance based on how, when, and how often they drive, without the need for any additional hardware."
These programs are designed to promote safer driving and allow insurers to develop longer-lasting relationships with their customers through the ability to provide additional incentives, such as rewards and personalized pricing.
"Arity's unique ability to identify and quantify driving behaviors best positions insurers to provide the most accurate price while giving consumers the transparency and control they so strongly desire," said Gary Hallgren, president of Arity. "We are proud to work together with Ford as we provide insurers an end-to-end solution that enables them to expand their connected vehicle technologies so they can quickly and easily grow their usage-based program adoption."
With the driver's consent, Arity's centralized telematics platform will be able to process driving data that is safely and securely provided by Ford from activated Ford vehicles. Arity's insights, including customizable driving attributes, are delivered to insurers via an Arity API. Drivesight®, Arity's nationally filed and regulator reviewed driving score, provides an accurate view of vehicle usage and driving behaviors, as well as a credible indication of risk that any participating insurer can use to improve pricing sophistication and inform discounts for their customer quickly.
About Arity
Arity is a mobility data and analytics company that provides data-driven solutions to companies invested in transportation, which enables them to deliver mobility services that are smarter, safer, and more economical. Insurance companies, automobile manufacturers, and shared mobility companies turn to Arity to better understand driving behavior, manage risk, operate more safely, and ultimately increase their bottom line. The Arity platform is built on more than 440 billion miles of historical driving data from more than 23 million active telematics connections and more than eight years of data directly from cars. With global offices and a Chicago headquarters, Arity was founded by The Allstate Corporation and launched in 2016.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected services. Ford employs approximately 188,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit corporate.ford.com. Contact Information
Press Contacts
Arity
Stacy Silver
Stacy.Silver@Arity.com
847-530-4224
Ford Motor Company
Martin Günsberg
mgunsber@ford.com
313-316-5319
SOURCE
Ford Motor Company https://corporate.ford.com/
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SOURCE Arity
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