Travelers Expands Telematics Offerings with IntelliDrivePlus™

Rhea-AI Summary

The Travelers Companies, Inc. (NYSE: TRV) has launched IntelliDrivePlus™, an advanced telematics auto insurance program, enhancing personalized coverage by assessing driving behaviors and mileage over the policy's life. This initiative follows the 50% growth of its predecessor, IntelliDrive®, in the last year, indicating increasing customer acceptance of behavior-based pricing. IntelliDrivePlus™ is currently available in Arkansas, Nebraska, and Ohio, marking a significant expansion of Travelers' auto insurance offerings.

Positive

• Launch of IntelliDrivePlus™ enhances personalization in auto insurance.
• IntelliDrive® experienced a 50% growth last year, showing strong customer acceptance.
• Expansion into three new states (Arkansas, Nebraska, Ohio) increases market reach.

Negative

• None.

HARTFORD, Conn.--(BUSINESS WIRE)-- The Travelers Companies, Inc. (NYSE: TRV) today announced that it has expanded its telematics auto insurance offerings with the launch of IntelliDrivePlus™. At each renewal, the app-based program calculates a new premium by measuring miles driven and driving behaviors, such as braking, acceleration, speed, time of day and distraction. IntelliDrivePlus™ is now available to customers in Arkansas, Nebraska and Ohio.

“Our original telematics program, IntelliDrive®, grew by 50% during the last year, making it clear that consumers are increasingly comfortable with pricing that reflects their driving behaviors,” said Michael Klein, Executive Vice President and President of Personal Insurance at Travelers. “IntelliDrivePlus™ builds on that momentum and offers our customers even more options to personalize their insurance.”

IntelliDrive® launched in 2017 and is available in 40 states. It calculates a premium based on driving behaviors, excluding mileage, which are tracked over a 90-day period. In comparison, IntelliDrivePlus™ calculates a premium by assessing changes in driving behavior and mileage, which are captured over the life of the policy.

To learn more about IntelliDrivePlus™, visit Travelers.com/IntelliDrivePlus.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $32 billion in 2020. For more information, visit Travelers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005638/en/

Media:

Sperry Mylott, 860-277-5075

smylott@travelers.com

Source: The Travelers Companies, Inc.

FAQ

What is IntelliDrivePlus™ from Travelers?

IntelliDrivePlus™ is a telematics auto insurance program that calculates premiums based on driving behaviors and mileage, enhancing personalization for policyholders.

In which states is IntelliDrivePlus™ available?

IntelliDrivePlus™ is available in Arkansas, Nebraska, and Ohio.

How did the original IntelliDrive® program perform last year?

IntelliDrive® grew by 50% last year, indicating strong consumer acceptance of behavior-based pricing.

What is the significance of the IntelliDrive® program for Travelers?

IntelliDrive® and its successor, IntelliDrivePlus™, demonstrate Travelers' commitment to personalized auto insurance and adapting to consumer preferences.