What percentage of consumers have opted for telematics when it's offered?
According to TransUnion, 65% of consumers chose to enroll in a telematics program when it was offered, showing strong demand for usage-based insurance options.
An initial discount is applied upon enrollment and maximized with full driver participation.
Although certain versions of the Signal program have surcharge factors at renewal (similar to other top telematics competitor programs), the likelihood of a policy surcharge is low.
When explaining the program to customers, it's important to be transparent with them that risky driving habits could result in a premium increase. The Signal program does provide driver feedback to help customers improve, and customers have the opportunity to improve their renewal factor at each renewal with better driving behaviors.
Distracted driving is considered any activity that shifts a driver's attention away from driving. Actions that involve holding or touching the phone while driving are considered distractions and are factored into focused driving behavior results.
Our goal with the Signal program data collection is to provide customer insights into their driving behavior to help them improve their driving habits and take more control of their auto premium.
The Signal program has access to two types of personal information. The first includes details the customer provided when they first enrolled in the program. The second is data the Signal app actively gathers to provide insights about their driving style.
Farmers® takes data privacy very seriously, and only uses the data collected in accordance with our data privacy policy. Want to find out more? Here is a link to our Privacy Policy.
