(Image source: Texas Farm Bureau Insurance homepage.)
Texas Farm Bureau Insurance (Waco) has announced its new insurance program, Drive‘n Save, built in partnership with Arity (Chicago), a mobility data and analytics company. The program offers drivers the chance to save 10 percent off their auto insurance premium just for participating, with deeper discounts available for drivers who demonstrate ongoing safe driving behavior. Policyholders download Texas Farm Bureau Insurance’s mobile telematics app, which collects driving behavior data to provide them with more accurate and fairer pricing based on how and how much they drive, according to an Arity statement.
With Drive‘n Save, Texas Farm Bureau Insurance will also be able to provide feedback on individual driver behavior to potentially reduce auto policy premiums for its customers. The new offering is enabled by Arity’s scoring model, Drivesight, which allows insurers like Texas Farm Bureau Insurance to tailor the customer experience with insurance premiums that more accurately reflect their actual driving behaviors.
“Promoting safe driving and providing discounts to our members are top of mind for Texas Farm Bureau Insurance,” comments Minesh Patel, Director of Pricing, Texas Farm Bureau Insurance. “We are always looking for ways to improve the way we service our members and provide them with the best coverage and solutions. With Arity’s long legacy and proven expertise in insurance telematics and wealth of data insights, there is no better partner to deliver the experience, accuracy, transparency, and rewards that our customers deserve—including discounts for driving safely.”
Improved Product Experience
Arity reports that it offers a suite of insurance solutions powered by more than 1 trillion miles of driving data that address industry challenges such as consumers’ price consciousness. The company says its solutions provide an improved product experience for Texas Farm Bureau Insurance and its customers, who continues to rank highest in customer satisfaction among auto insurers in Texas according to J.D. Power over the past 11 years in a row.
“As drivers increasingly demand insurance pricing that reflects their individual driving habits, it’s critical for insurance companies to leverage the power of telematics,” comments Henry Kowal, Director of Outbound Product Management, Insurance Solutions, Arity. “This is key to empowering
drivers to use their data for their own benefit. We are very excited to partner with Texas Farm Bureau Insurance to bring Drive‘n Save to its customers and deliver insights and values that can help make the roads safer and reward safer driving.”
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