While such a feat resembles the known “Big Brother” setup, a survey shows that more than 50% of US motorists would allow their insurance company to monitor their driving habits in exchange for lower insurance rates.
The Deliotte Center for Financial Services, which conducted the research, notes that insurers are also more interested in auto telematics or mobile technology that allows them to gather driving habit data – which would aid in better establishing individual charge rates on drivers.
“We are committed to helping create a safer, more self-aware driver and, in doing so, we are able to pass along significant savings for safer driving,” says Allstate’s Drivewise Program Director Sarah Inciong. “Having more customers participate offers us even more insight into the impact of various driving behaviors, which can help improve the product and our customer’s driving habits.”
The Drivewise program and others like it conducted by large providers, such as Allstate, Progressive and State Farm already see around one million drivers taking part in “pay-as-you-drive” or usage-based insurance coverage.
Still, the survey also found 30% of the online respondents – which questioned motorists in the US, Australia and the UK – were “very concerned” of vehicle security breaches and data privacy.