New survey finds much more than half of Chicagoland drivers drive 10,000 miles or much less a yr 66 % interested in a spend-per-mile car insurance model that fits their driving habits
March eleven, 2014 —
CHICAGO, March eleven, 2014 /PRNewswire/ —MetroMile nowadays announced that it is expanding its linked driving platform to drivers in Illinois. Clients who sign up for MetroMile will obtain accessibility to the total set of companies developed to save drivers time and funds, like MetroMile’;s free Metronome gadget and mobile app, and the world’;s most democratic insurance coverage choice the nation’;s only shell out-per-mile car insurance policy. Illinois joins California, Washington, and Oregon as states currently offering MetroMile’;s providers.
MetroMile created its spend-per-mile car insurance merchandise in response to the trend that although U.S. drivers are driving much less travel on all roads and streets dropped roughly 3.1 billion miles in February 2013 in contrast to February 2012 (U.S. DoT) standard insurance coverage businesses have not adjusted the way they charge their clients.
A new survey from MetroMile discovered that this trend is consistent with Chicago-area drivers much more than half (51 %) of adult drivers in the metro Chicago location drive significantly less than 10,000 miles a 12 months. For grownups 18-29, this was real for 60 % of respondents. Designed for individuals who drive much less than 10,000 miles a yr, MetroMile saves the normal client more than $ 400 annually.
“We are excited to deliver the 1st enormous shift in auto insurance in many years to drivers in Chicago,” mentioned MetroMile CEO Dan Preston. “MetroMile’;s spend-per-mile car insurance is the very first stage in empowering urban drivers to very own a automobile under their very own terms. Our free of charge Metronome device and iOS app also offer drivers with prescriptive suggestions to save them time and funds. Our objective is to serve as an advocate for drivers, unlocking the information in their automobiles to help them to consider control of the charges and time linked with owning a auto. Over time, we will be launching further services that deliver on this mission, and supply sensible solutions to some of the greatest issues of urban automobile ownership. We are fundamentally rethinking the partnership amongst auto and driver to make it less complicated, simpler, and significantly less high-priced.”
In addition to its flagship car insurance item, MetroMile provides a totally free iOS app that supplies drivers with predictive insights to assist them conserve time and gasoline on their everyday drives, very easily diagnose check engine lights, and locate their auto wherever it is parked. MetroMile clients simply plug MetroMile’;s free of charge connected auto gadget, the Metronome, into the OBD II port of their car. The Metronome captures data from the auto, and transmits it wirelessly to the MetroMile platform.
The predictive companies MetroMile delivers were created in response to the very same kinds of driver ache points that were raised in the benefits of MetroMile’;s client survey. For instance:
- Half (50%) of respondents make a lot more of a conscious try to drive significantly less than they did 5 years ago
- Much more than half (57%) of respondents cited large gasoline charges/wish to conserve funds as the primary motivator for minimizing their driving
- Nearly thirty% (29%) of respondents have employed public transportation at least when a month within the past yr
- Sixty-6 percent of respondents would contemplate making use of a shell out-per-mile car insurance model versus the classic flat-price model
- Sixty-2 % of respondents cited visitors as their biggest frustration when it comes to driving in Chicago
“We know that people residing in cities generally drive much less than half the nationwide typical. The survey results demonstrate Chicago-area residents are also producing a concerted hard work to decrease their driving even further, due to the price of fuel,” Preston said. “We developed MetroMile to deal with these precise challenges, from reducing the price of automobile ownership by means of our shell out-per-mile car insurance item to minimizing the time invest in traffic by way of the predictive recommendations delivered via our free mobile app. We feel that driver data is 1 of their most useful assets it is MetroMile’;s mission to put that information back into drivers’; hands to aid them conserve time and funds.”
This survey was carried out on the internet on behalf of MetroMile in February 2014 amid one,333 automobile owners and lessees over 18 many years previous in the Chicago/Naperville/Joliet metro location.
MetroMile is developing a revolutionary platform for solutions developed around the wants of drivers from beneficial driving information and insights to an fully new pay-per-mile car insurance model. MetroMile technological innovation combines hardware, software, and cloud-primarily based infrastructure to entry, analyze and control driving data at a enormous scale. Over time, the firm ideas to harness the energy of its predictive modeling expertise to make all facets of driving and owning a car less complicated, much less expensive, and far more practical. MetroMile is situated in San Francisco, California. For a lot more information, check out www.metromile.com.
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