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September 4, 2020

Ford, Metromile tie-up to offer personalised car insurance

By Verdict Staff

American automaker Ford has partnered with San Francisco-based car insurance startup MetroMile to offer personalised car insurance to owners of Ford vehicles with built-in connectivity.

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Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
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by GlobalData
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Under the tie-up, Ford will offer Metromile’s pay-per-mile offering to its eligible customers.

The drivers can sign up for the insurance using Metromile’s app or website. Once enabled, the odometer on their new Ford vehicle will connect to Metromile’s software, which will start tracking miles.

Metromile CEO Dan Preston said: “This is an important milestone for Metromile, and it’s even more important for drivers. That’s why I’m so excited about it. It’s a tangible example of how car insurance can adapt more closely to how our lives are changing — where we live and work (for many of us, that’s the same place right now), how we drive, and where we drive.

“Connecting your car directly to your insurance is a big step toward making insurance much more personalised to your driving habits. We’ll see more convenience, customisation, and savings than ever before.”

It is being claimed that eligible Ford owners can save $741 a year on average by signing up for pay-per-mile insurance.

Last month, American electric vehicle and clean energy company Tesla established an insurance broking firm in China to offer insurance to Tesla owners in the country.

Last year, the company launched its insurance offering in California, US. It partnered with State National Insurance Company, a subsidiary of Markel, to roll out the motor insurance product.

Free Report
img

Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
Improve your business strategy with our extensive report. Download it for free, now.
by GlobalData
Enter your details here to receive your free Report.

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