Hyundai Motor America Selects Verisk For Usage-Based Insurance
FOUNTAIN VALLEY, Calif., April 17, 2018 /PRNewswire/ -- Hyundai Motor America and Verisk, a leading data analytics provider, today announced an alignment to bring usage-based insurance (UBI) programs to Hyundai customers in the future meaning lower insurance premiums for drivers. Hyundai Motor America has signed an agreement to join the Verisk Data Exchange™. This agreement also means Hyundai will supply Verisk with driving data via its Blue Link connected car service from consenting car owners. Together, both companies will help to reduce the cost of ownership for Hyundai owners and lessees. Lower insurance premiums will be especially helpful to younger shoppers looking at buying the all-new Hyundai Kona and Veloster.
"Our alliance with Verisk will enable new value-added services for our customers," said Manish Mehrotra, director of digital business planning and connected operations, Hyundai Motor America. "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."
Later this year, Hyundai owners and lessees will gain access to their Verisk Driving Score™, a simple metric that assesses individual driving behavior. If a driver opts in, insurers can use the score from the Verisk Data Exchange to support usage-based insurance programs through a related rating rule available for use in 42 states and the District of Columbia. Driving tips and reports can also be provided to customers to encourage safer and more efficient driving. Hyundai owner consent will be required to provide data to the exchange or individual insurers.
"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," said Saurabh Khemka, senior vice president and general manager, Verisk IoT/Telematics. "As growing numbers of insurers use the exchange for underwriting and claims solutions, it will help drive evolution within the insurance industry."
Blue Link connected car services are now available on the entire Hyundai lineup (2018 model year and newer). Equipped models include three years of complimentary Blue Link services, with enhanced safety, diagnostic, remote, and voice guidance services. Blue Link brings connectivity directly into the car with technologies like Remote Start with Climate Control, Remote Door Lock/Unlock, Car Finder, Enhanced Roadside Assistance, and Stolen Vehicle Recovery. Blue Link features can be accessed via buttons on the rearview mirror, the MyHyundai.com web portal, the MyHyundai with Blue Link smartphone app, the Amazon® Alexa Blue Link skill, and the Blue Link Google Assistant app. Some features can also be controlled via WearOS™ by Google and Apple Watch™ smartwatch apps. The latest release of the Blue Link smartphone app includes:
- Widgets for easy access to remote features
- Ability to send Point-of-Interest data to vehicle navigation system (if so equipped)
- Access to Blue Link notification settings
More details on specific Blue Link-equipped vehicles from consenting car owners is available at www.hyundaibluelink.com.
As a hub for connected vehicle and smart home data, the Verisk Data Exchange is the insurance industry's leading Internet of Things (IoT) platform helping personal and commercial lines insurers achieve more accurate ratings, proactive loss mitigation services, and faster first notices of loss. The exchange now has 3.3 million cars with more than 36.5 billion miles of driving data and is growing at more than 150,000 vehicles every month. For more information, visit Verisk.com/data-exchange.
Verisk
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index. In 2017, Forbes magazine named Verisk to its America's Best Mid-Size Employers list and to its World's Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
Hyundai Motor America
Hyundai Motor America is focused on delivering an outstanding customer experience grounded in design leadership, engineering excellence and exceptional value in every vehicle we sell. Hyundai's technology-rich product lineup of cars, SUVs and alternative-powered electric and fuel cell vehicles is backed by Hyundai Assurance—our promise to deliver peace of mind to our customers. Hyundai vehicles are sold and serviced through more than 830 dealerships nationwide and the majority sold in the U.S. are built at U.S. manufacturing facilities, including Hyundai Motor Manufacturing Alabama. Hyundai Motor America is headquartered in Fountain Valley, California, and is a subsidiary of Hyundai Motor Company of Korea.
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