A company called Electric Insurance company based in the town of Beverly, Massachusetts has launched a highly innovative new smartphone app, dubbed 'Great Driver', that is designed to make it easier than ever for people who exhibit safe and sound driving skills to put themselves in the running for significant insurance discounts.
A lot of big insurance companies have given their clients special gadgets that they can plug into their car in order to track their driving behavior and potentially set them up with discounts. But what's great about Electric Insurance's initiative is that it simply involves a smartphone app that analyzes your driving skills and provides feedback, before assigning a score that could see you qualify for a discounted premium.
The Great Driver app is clearly a great initiative in that it rewards good drivers who have earned a discount on insurance.
Driver-Rewarding Insurance Apps
The 'Great Driver' App Offers Good Drivers Insurance Discounts
Trend Themes
1. Usage-based Insurance - The Great Driver app showcases the trend of usage-based insurance, where premiums are based on an individual's driving behavior.
2. Mobile App Innovation - The development of the Great Driver app highlights the trend of innovative mobile apps being used to track and reward safe driving.
3. Personalized Insurance Solutions - The Great Driver app demonstrates the trend of personalized insurance solutions that offer discounts and rewards to individuals based on their driving skills.
Industry Implications
1. Insurance - The insurance industry has the opportunity to embrace usage-based insurance models and develop mobile apps to track and reward safe driving.
2. Technology - The technology industry can capitalize on the trend of developing innovative apps for insurance companies that analyze driving skills and provide feedback.
3. Automotive - The automotive industry can partner with insurance companies to integrate tracking devices or develop smartphone apps that monitor and reward safe driving.