We’ll Always Have Data
According to the Wall Street Journal, Mitsubishi is encouraging drivers to share their driving data with auto insurers. The Japanese automaker is offering different perks such as $10 off an oil change and free coffee for drivers that will use its app to track their driving habits. The telematics solution, which was developed by LexisNexis and is available via Mitsubishi’s Road Assist+ app, monitors data points like acceleration, location, and rotation.
The app doesn’t require any extra hardware and can be used by owners of new or previously sold Mitsubishi vehicles within a five-year warranty period. The first Mitsubishi client that will gain access to this data is State Auto. “Insurance rates for drivers with the app are determined after a trial period during which insurers build a customer risk profile. That provides a price quote less likely to change than those that provide initial discounts for signing up but can rise or fall sharply at renewal based on retroactive driving data. They’ll get a much more accurate quote from day one.” – CEO of State Auto, Michael LaRocco.
“Almost every auto maker is actively looking at this space . This could help stabilize the business if the market slips.” – Senior Manager, Telematics and Accessory Planning at Mitsubishi Motors, Bryan Arnett.