Hyundai Motor America has formed an alliance with data analytics provider Verisk to enable the former’s consumers to take advantage of usage-based insurance (UBI) programs.
As part of the alignment, Hyundai Motor America has signed an agreement to join the Verisk Data Exchange. Under the agreement, Hyundai will supply Verisk with driving data from consenting car owners through its Blue Link connected car service.
Blue Link connected car services have been made available on the entire Hyundai line-up, starting with 2018 model year vehicles.
Both companies will utilize the data gathered with the aim of reducing the cost of ownership for Hyundai owners and lessees.
“Our alliance with Verisk will enable new value-added services for our customers,” said Hyundai Motor America director of digital business planning and connected operations Manish Mehrotra. “Hyundai customers will have access to their portable Verisk Driving Score, which can lead to discount offers on UBI programs and support driver feedback that helps improve their driving.”
Hyundai owners and lessees will have access to their Verisk Driving Score later this year; the metric assesses individual driving behavior. The score can be used to support UBI programs through a related rating rule available for use in 42 states and the District of Columbia, a release said.
“This agreement with Hyundai further establishes the Verisk Data Exchange as the solution of choice for automakers seeking to connect their customers with innovative insurers,” commented Verisk IoT/telematics senior vice-president and general manager Saurabh Khemka. “As growing numbers of insurers use the exchange for underwriting and claims solutions, it will help drive evolution within the insurance industry.”
