Texas Farm Bureau Insurance on March 30 announced its new insurance program, Drive‘n Save, built in partnership with Arity, a mobility data and analytics company.
The program offers drivers the chance to save 10% on their auto insurance premium just for participating, with deeper discounts available for drivers who demonstrate ongoing safe driving behavior. Policyholders download Texas Farm Bureau Insurance’s mobile telematics app, which collects driving behavior data to provide them with more accurate and fairer pricing based on how and how much they drive, leading the way for the future of insurance.
With Drive‘n Save, Texas Farm Bureau Insurance will also be able to provide feedback on individual driver behavior to potentially reduce auto policy premiums for its customers.
The heart of this new offering is Arity’s distinct scoring model, Drivesight®, which allows insurers like Texas Farm Bureau Insurance to tailor the customer experience in today’s data-driven environment with insurance premiums that more accurately reflect their actual driving behaviors.
“Promoting safe driving and providing discounts to our members are top of mind for Texas Farm Bureau Insurance,” said Minesh Patel, director of pricing for Texas Farm Bureau Insurance. "We are always looking for ways to improve the way we service our members and provide them with the best coverage and solutions. With Arity's long legacy and proven expertise in insurance telematics and wealth of data insights, there is no better partner to deliver the experience, accuracy, transparency and rewards that our customers deserve---including discounts for driving safely.”
As people continue to face the threat of a recession and individual financial challenges, they are frequently shopping for ways to save on their insurance. Being able to offer the right price---and one that reflects how people actually drive---is a top priority for many insurers.
Arity offers a broad suite of insurance solutions that address these industry headwinds, powered by more than 1 trillion miles of driving data. These solutions provide an improved product experience for Texas Farm Bureau Insurance and its customers, who continues to rank highest in customer satisfaction among auto insurers in Texas according to J.D. Power over the past 11 years in a row.
"As drivers increasingly demand insurance pricing that reflects their individual driving habits, it’s critical for insurance companies to leverage the power of telematics. This is key to empowering drivers to use their data for their own benefit,” said Henry Kowal, director of outbound product management, insurance solutions at Arity. "We are very excited to partner with Texas Farm Bureau Insurance to bring Drive‘n Save to its customers and deliver insights and values that can help make the roads safer and reward safer driving."
Source: Texas Farm Bureau Insurance