LexisNexis Risk Solutions and Mitsubishi Motors Corp. have teamed up for new technology that monitors car usage to design usage-based insurance (UBI) options for Mitsubishi vehicle drivers, LexisNexis said in a release.
Mitsubishi vehicles will be the first to be connected directly to the LexisNexis Telematics Exchange, the release said. The new technology, paired with the Mitsubishi telematics app, seamlessly integrates driver behavior data into the LexisNexis Telematics Exchange, offering Mitsubishi data that can help improve its products. Ultimately, enrolling in UBI can help safe drivers lower their car insurance premiums, the release said.
"Our recent studies show that drivers want pay-as-you-drive insurance policies, but only a quarter are being offered these programs by their insurers," Ash Hassib, senior vice president and general manager of auto and home insurance for LexisNexis Risk Solutions, said in the release. "So the demand is here, and through our partnership with Mitsubishi, we're able to make UBI options more accessible for consumers and the data more efficient for insurers to utilize."