Hyundai Motor America and Verisk, a data analytics provider, are partnering to bring usage-based insurance programs to Hyundai customers.
As a hub for connected vehicle and smart home data, the Verisk Data Exchange is an insurance industry Internet of Things (IoT) platform helping personal and commercial lines insurers achieve more accurate ratings, proactive loss mitigation services, and faster first notices of loss. The exchange now has 3.3 million cars with more than 36.5 billion miles of driving data and is growing at more than 150,000 vehicles every month.
Hyundai will supply Verisk with driving data via its Blue Link connected car service from consenting car owners. Together, both companies will help to reduce the cost of ownership for Hyundai owners and lessees. Lower insurance premiums will be especially helpful to younger shoppers considering the Hyundai Kona and Veloster.
Later this year, Hyundai owners and lessees will gain access to their Verisk Driving Score, a metric that assesses individual driving behavior. If a driver opts in, insurers can use the score from the Verisk Data Exchange to support usage-based insurance programs through a related rating rule available for use in 42 states and the District of Columbia.
The alliance will enable new value-added services for customers, said Manish Mehrotra, director of digital business planning and connected operations, Hyundai Motor America.
“Hyundai customers will have access to their portable Verisk Driving Score, which can lead to discount offers on usage-based insurance programs and support driver feedback that helps improve their driving,” Mehrotra says in a release.
Driving tips and reports can also be provided to customers to encourage safer and more efficient driving. Hyundai owner consent will be required to provide data to the exchange or individual insurers.
“As growing numbers of insurers use the exchange for underwriting and claims solutions, it will help drive evolution within the insurance industry,” said Saurabh Khemka, senior vice president and general manager, Verisk IoT/Telematics, in a release.
Blue Link connected car services are now available on the entire Hyundai lineup (2018 model year and newer). Equipped models include three years of complimentary Blue Link services, with enhanced safety, diagnostic, remote, and voice guidance services. The automaker has a dedicated website detailing the options.
Blue Link brings connectivity directly into the car with technologies like Remote Start with Climate Control, Remote Door Lock/Unlock, Car Finder, Enhanced Roadside Assistance, and Stolen Vehicle Recovery. Blue Link features can be accessed via buttons on the rearview mirror, the MyHyundai.com web portal, the MyHyundai with Blue Link smartphone app, the Amazon Alexa Blue Link skill, and the Blue Link Google Assistant app. Some features can also be controlled via WearOS by Google and Apple Watch smartwatch apps.