Telematics innovation comes with the increase in claims volume seen across the insurance industry.
San Antonio, August 17, 2022 /PRNewswire/ — Today, USAA announced that it was one of the first auto insurers to implement collision detection technology, an innovation that simplifies and speeds up the claims process. The technology comes at a time when car crashes have surged beyond pre-pandemic levels, exacerbating problems in supply chains and the severe delays consumers across the country are feeling.
Collision detection technology integrated into USAA’s SafePilot® app has since generated more than 36,000 crash notifications. November 2021 on sale. The technology leverages smartphone sensors within the app to detect potential collisions and prompt members to check if an accident has occurred. Once verified, the app immediately provides helpful information, including accident site safety guidance, the option to submit a claim through a streamlined process, and the ability to dial 911 directly from the app.
“Ultimately it comes down to keeping our members safe and helping them get back on their feet faster,” he says. Luke Harris, Vice President of Innovation, USAA. “We are always looking for innovative ways to make life easier for our members. We can provide a better member experience and faster resolution of complaints.”
Collision claims surge to pre-pandemic levels
The insurance industry continues to cope with increasing numbers, severities and costs of motor vehicle accidents as telematics innovations improve the claims process. USAA said he processed 500,000 more claims in 2021 than in 2020. The trend was felt widely as pandemic restrictions were lifted and more cars returned to the roads.
The severity of accidents is also increasing. The National Highway Traffic Safety Administration (NHTSA) recently announced the highest number of road fatalities in 16 years, raising concerns that roads are becoming more dangerous. With the increase in serious accidents, repair costs are also rising significantly. In 2021, USAA said crash repair costs were up 38% compared to his 2020 and he is now on pace to increase another 30% in 2022. In addition, insurance companies are seeing rising repair costs as inflation affects the prices of goods and services. Vehicles due to supply chain issues or lack of parts or labor.
Amid these changes, telematics-based insurance plans have surged in popularity as USAA members seek ways to save on premiums.
- SafePilot®, USAA’s behavior-based insurance (BBI) plan, offers premium discounts on safe driving behavior. Registered members are eligible for an initial insurance discount of up to 10% for sign-ups and a continuing insurance discount of up to 30% for safe driving behaviour. SafePilot® driver registrations, now available in more than 43 states, are more than 200% higher than in 2021. washington dcwith plans to expand to nearly every state in 2023.
- USAA now also offers a pay-as-you-go (UBI) option that determines your premium based on how much you drive and how safe you are. USAA said in 2021 he will acquire the product from Noblr, Inc. and is currently available in 10 states, with plans to expand to most states in 2023. Transportation as your primary mode of transportation (bicycles, public transport, etc.).
For more information on these products, please visit USAA.com/drive.
About USAA
Founded in 1922 by a group of military officers, USAA is one of the leading providers of insurance, banking, investment and retirement solutions to over 13 million members of the U.S. Armed Forces, honored veterans and their families. .Head office location San Antonio, USAA has offices in eight cities in the United States and three international locations, and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofit organizations to support the communities where military families and employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
contact: USAA Media Relations
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