Allstate makes leap into personalized auto insurance pricing

Allstate | March 30, 2020

Allstate has done it again. The forward-thinking, tech-savvy firm has become the first insurer to offer auto insurance pricing that fluctuates from week-to-week. This new option, referred to as personalized pricing, is the latest iteration of Allstate’s popular Milewise pay-per-mile insurance policy, which launched in 2018. Milewise is a telematics-based insurance program that uses a plug-in OBD2 dongle to collect driving data, which is then transmitted back to Allstate and presented to customers on the Allstate mobile app. The device records how many miles a driver has travelled and then deducts a set amount of premium for every mile driven using a prepaid system of billing. The program was initially aimed at drivers with low annual mileage, for example stay-at-home parents, retirees, and telecommuters, under the premise that they would achieve cost savings by opting for pay-as-you-go insurance.

Spotlight

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

Spotlight

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

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