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  • Are people really comfortable trading data for rewards?
    State Farm, Creative Commons (2014) ©

Progressive: rewarding drivers that play it safe

Insurance is a necessary evil; it's a grudge purchase that people would rather not think about. Smart insurers like Progressive are using black box technology to monitor their customers – safe driving can lead to double-digit cost cuts. But are people comfortable trading their data for rewards?

Location United States

Insurance is a necessary evil – a grudge purchase that people would rather not think about where possible. And while others in the financial sector – like banks – are racing to embrace digital technology, the insurance industry is still playing catch-up. The reluctance to roll out new technologies is partly cultural, partly financial.

Telematics technology is triggering an upheaval in the way car insurance is sold, and it’s being pioneered in the US by insurer Progressive. By installing a black box in its customer’s cars on a scheme named Snapshot, the insurer can track people’s driving style ...



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