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Technology is Edge for Driverless Car insurance says Progressive

Friday, March 14, 2014

Progressive Corp. said its technology that tracks driver behavior to set insurance rates will help the company adapt as automated cars take the road.

The auto insurer offers a device called Snapshot, which plugs into a vehicle and monitors habits to calculate discounts for customers. As cars become more automated, the technology could be used by underwriters to design policies, Chief Executive Officer Glenn Renwick said recently. “It gives us some very direct insight to the vehicle,” he said during a conference call. “That gives us opportunities to think about things differently, what might be insurable.”

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