Next Telematics/UBI Program
Report from the Survey
The report (PDF) summarizes your responses.
The report provides the predictions of those who participated in the survey. The results were presumably slanted by the industry rumours of an immediate announcement which hit the presses just as the survey closed. Nonetheless, the answers do present a couple of interesting points.
This survey closed Sunday, May 12.
When Will the Next Telematics/UBI Program be Announced in Canada?
We are aware of three auto insurance programs in Canada which feature telematics and/or Usage Based Insurance (UBI). One uses telematics and provides driver feedback on their driving performance, but does not base insurance premiums on the data. Another accepts driver reporting of distance driven and uses that data as a factor in the premium charged. A third, targeting young drivers, combines telematics data as a factor for the insurance premium charged.
Industry buzz suggests that probably more than one additional insurer will announce a telematics/UBI program this year.
Our four-question survey should take no more than a minute or two.
This survey brought to you by Insurance-Canada.ca