Nationwide partners with Verisk on UBI

Nationwide has partnered with Verisk to allow drivers who opt to share driving data gathered from their eligible connected vehicle to bypass the monitoring phase of Nationwide’s SmartRide® usage-based insurance (UBI) program and learn if they qualify for an instant discount based on their driving habits. Agents are also able to provide an even better quoting experience by using existing data to provide an up-front earned discount for drivers.

To determine the eligibility of the earned discount instantly, customers can choose to share driving data that has already been collected by their connected vehicles. With customer approval, Nationwide’s SmartRide® program will connect with the Verisk Data Exchange™ to leverage their driving data for a SmartRide discount. SmartRide offers a discount based on how safely someone drives, typically tracking driving behaviors and mileage for six months to determine the discount. With consumer consent, the Verisk Data Exchange will collect telematics data from eligible connected vehicles and apply advanced analytics, transforming multisource data into insurance-ready information. The turnkey integration will enable agents to quickly and efficiently offer earned discounts to insurance rates for qualified drivers, using historical driving data and eliminating the need to use an app or device.

Nationwide’s SmartRide program is available in 47 states and is designed to provide discounts of up to 40% for safe drivers who agree to participate.