January 26, 2021

Smartcar and True Mileage partner to offer auto insurers optimal UBI data and analytics for over 60 million cars

Charlotte Kosche

Sr. Content Writer

Smartcar and the usage-based insurance (UBI) analytics provider True Mileage partner to launch a simple and accurate mileage and UBI solution for auto insurers. Smartcar’s APIs allow insurers to verify vehicle mileage, time of day, and additional information without the need for hardware, an app, or any ongoing driver action. True Mileage UBI analytics convert this vehicle data into accurate discounts.

True Mileage UBI analytics

Auto insurers use True Mileage’s UBI analytics to provide discount programs for their customers. For example, mileage discount programs include a variety of programs—such as pay-per-mile policies, discounts at the point of sale, and adjusted renewal rates—that verify or accurately estimate a driver’s mileage and compensate them if their mileage is lower than expected.

Mileage discount programs are an effective tool for insurers. Mileage has historically been difficult to verify and thus difficult to use as a reliable rating factor. In addition to the billions of dollars that insurers lose due to underreported mileage every year, mileage has also become a common cause of customer churn, especially during the COVID-19 pandemic.

This year, car owners are still driving less than before the pandemic, and consumer advocates are asking insurers to issue additional premium refunds. Instead of offering the same refund to all drivers, mileage discount programs allow insurers to accurately categorize each car owner’s risk and adjust rates accordingly—not only during the COVID-19 pandemic but in the long term, too.

Two of True Mileage’s analytics products—both built on massive unbiased national datasets—can be used in conjunction with Smartcar’s API:

  • Mileage Discount Analytics
  • Daytime Discount Analytics

“We’re excited to partner with True Mileage, making auto insurance fairer and more affordable during the COVID-19 pandemic and beyond,” said Smartcar CEO Sahas Katta. “I’m looking forward to seeing the impact that our partnership will make for both car owners and insurers.”

Smartcar provides an unparalleled data source for UBI

Thanks to Smartcar, True Mileage clients can now access accurate mileage, time of day, and additional data without the need for an aftermarket device, a UBI app, or any ongoing driver action.

Smartcar’s API technology allows insurers to connect directly to a driver’s vehicle. When first connecting their car, the driver logs in with their connected services account and agrees to share periodic odometer readings and optionally their vehicle location. The insurer can then verify the vehicle’s mileage and mileage by time of day and run this data through True Mileage’s analytic models to calculate an accurate discount.

Four smartphone screens showing the app of the auto insurance provider Sky Insurance and Smartcar's vehicle owner consent flow.
Smartcar’s API technology allows insurers to connect directly to a driver’s vehicle.

“I was completely awestruck when I learned that Smartcar enables insurers to connect to over 60 million vehicles—a number that’s vastly superior to other solutions on the market,” said True Mileage Founder and CEO Ryan Morrison. “This is a huge step forward for the insurance telematics industry. We’re excited to be at the forefront of this incredible advancement.”

Auto insurance providers in the United States can now request early access to the comprehensive and hassle-free UBI solution. True Mileage and Smartcar plan to make the solution publicly available later this year.

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