When was progressive snapshot introduced

Niranjan Manohar, an analyst at Frost and Sullivan, calls Snapshot a hit, crediting its plug-and-play nature for part of its success. Plus, customers can access their own Snapshot data with a variety of devices, including smartphones and tablets. Prospective customers using the trial version not only learn how much money they might save with Progressive, but they also receive tips for being a better driver.

Progressive, meanwhile, gets current insights into who is a good or bad risk even before doing business with the person. Such up-front segmentation leads to higher-value policies overall, Ray says. Progressive already had most of the infrastructure needed to support Snapshot, which it patented last year, but it had to build systems to help in collecting data and analyzing it to project customer savings.

Snapshot uses a service-oriented architecture SOA that allows its user-experience systems to retrieve and store information from the usage-based insurance and billing systems. Progressive developers worked with an advertising agency to design the interface and customer experience, emphasizing engagement. For example, customers can share aspects of their Snapshot experience on social networks.

Follow everything from CIO. Snapshot measures rapid accelerations, hard braking, miles driven and the time of day. For customers using the phone app, it also measures phone use while driving. But the company is temporarily allowing Snapshot customers to choose a shorter review period of at least 30 days for a recalculation of rates. Even if a current Snapshot customer has completed a review period, they can choose to remonitor in order to try for a better rate based on their driving safety score.

The temporary rule for a decreased review period is generally expected to take effect from early February until July 31, In the early months of the pandemic, many insurance companies offered relief in the form of car insurance refunds , mainly due to a significant drop in miles driven.

With less traffic on the road, there were fewer car accidents and fewer insurance claims. Arity reports that the number of overall daily trips is nearly back to pre-pandemic levels. The fewer miles you drive, the cheaper your car insurance bill will be every month. But pay-per-mile is not for everyone. For example, if you expect to return to a daily commute in , pay-per-mile could end up costing you more than a traditional policy if you start racking up a bunch of miles.

Jason Metz is a writer who has worked in the insurance industry since He has a B. Select Region. United States. United Kingdom. Jason Metz. Please tell us what we can do to improve this article. Submit No Thanks. Here are more articles you may enjoy. May 16, Insurance Journal West Magazine. Interested in Auto? Get automatic alerts for this topic. Email This Subscribe to Newsletter. Categories: Features Have a hot lead? Email us at newsdesk insurancejournal.