BOSTON, April 4, 2017 /PRNewswire/ -- Liberty Mutual auto insurance customers who drive a Volvo with active or passive advanced safety features may soon see a discount on their premium through Liberty Mutual's new TechSafety™ program. In addition to encouraging the adoption of advanced and autonomous safety features among drivers through savings incentives, Liberty Mutual will also evaluate the impact these emerging features have on accident frequency and severity.
The program builds on the success of the Volvo City Safety technology which includes pedestrian, cyclist, and large animal detection with emergency autobrake.
"We believe vehicles equipped with these types of advanced safety features will not only reduce crashes but help our customers worry less on the road while providing them new ways to save on their auto insurance," said Hamid Mirza, senior vice president of product strategy and solutions at Liberty Mutual Insurance. "This agreement with Volvo represents an important opportunity to build upon the success of these new technologies now available to our customers."
A January 2016 report from The Insurance Institute for Highway Safety (IIHS) showed that cars outfitted with Volvo City Safety reduced rear end crashes by 41 percent and injuries by 47 percent. Liberty Mutual will study the effects of these safety features, sharing the information with the manufacturer in an effort to help promote further advanced safety.
"Volvo continues to set the benchmark for automotive safety," said Lex Kerssemakers, President and CEO of Volvo Car USA, "We are excited to work with Liberty Mutual and provide additional value to Volvo customers."
Liberty Mutual Insurance and Volvo Car USA have collaborated since 2010, offering Volvo owners valuable savings and unique features to their auto policy through the Liberty Mutual affinity program. This program expansion now includes the TechSafety discount for Liberty Mutual auto insurance customers, allowing drivers to save up to an additional ten percent on their premiums with Volvo vehicles featuring City Safety technology. Beginning in April 2017, customers in Illinois will have access to this discount, rolling out to additional states throughout this year. All Volvo vehicles with City Safety technology are eligible for the program.
"This new TechSafety program with Volvo reflects the importance of these two industries coming together to truly co-create new value for U.S. customers with a commitment to driving auto safety innovation," said Sandeep Gupta, senior vice president of strategic partnerships at Liberty Mutual. "We look forward to growing our relationship with Volvo through these emerging technologies to develop even more value for our customers both now and in the future."
For more information on the Liberty Mutual program for Volvo customers, visit Liberty Mutual online.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. We are the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. Liberty employs over 50,000 people in more than 800 offices throughout the world.
The fifth largest auto and home insurer in the U.S., Liberty Mutual (libertymutual.com) sells full lines of coverage for automobile, homeowners, valuable possessions, personal liability, and individual life insurance. We are an industry leader in affinity partnerships, offering car and home insurance to employees and members of more than 15,000 companies, credit unions, professional associations and alumni groups.
About Volvo Cars
Volvo Car USA, LLC, (VCUSA) is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCUSA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States. For more information please refer to the VCUSA media website at: http://www.media.volvocars.com/us.
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SOURCE Liberty Mutual Insurance