By: William Forbes
USA Today recently posted an article about insurers using predictive technology to help personalize insurance rates. Specifically, the article focuses on insurers that are looking into weighing the risk involved with different travel routes and using that information to help determine an insured's rate. The goal of this rate method would be to customize insurance rates based on an individual's personal driving habits, but also to "promote and reward customers who mitigate risk," says the article.
We've seen rate and policy customization as a major trend in the industry recently.
Check out the full article here: http://www.usatoday.com/story/money/personalfinance/2016/11/14/route-risk-patent--car-insurance-rate-price/93287372/