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.