Insurers To Use Mobile Phones To Track

A new usage-based insurance (UBI) software platform will enable insurers to track drivers’ behavior through smartphone sensors and geolocation services.

Agero, one of the nation’s largest suppliers of roadside safety software and services to automakers and insurance companies, said its new UBI telematics suite will transmit to insurers the information needed to offer discounts to good drivers, penalize others, and send alerts to emergency assistance service providers.

The UBI suite consists of the PolicyPal app, which tracks driving habits in real time, and Auto Crash Notification (ACN), which automatically notifies emergency services within moments of an accident.

Currently, State Farm’s In-Drive and Progressive’s Snapshot program, offer customers the opportunity to voluntarily participate in programs in which their insurer collects vehicle data and uses the information to determine driving habits, which in turn can be used to offer lower-rate incentives to safer operators.

Unlike Agero’s new platform, however, In-Drive and Snapshot, use a small data collection device that plugs into a vehicle’s standard OBDII onboard diagnostics port under the dashboard and transmits data from a car’s central computer to insurance companies.

Agero’s new mobile suite will greatly expand upon the universe of consumers who can vie for “discount rates” based on their driving profiles. The mobile device also travels with them in or out of the vehicle.

Over the past decade, the insurance industry has been embroiled in a heated price war, with companies vying to be king of the heap for discount pricing.

“It’s becoming a cutthroat market. They’re competing on price,” said Jeff Blecher, senior vice president of strategy at Medford, Mass.-based Agero. “To break that mold, they need a new business model. UBI does that. Now, they can compete based on the risk profile of drivers.”

UBI offers the insurance industry new opportunities for tailored discount programs. Notably, they can switch from relying OBDII dongles plugged into the customer’s car and instead use mobile apps that travel with the driver, whether he’s traveling in his own car or another vehicle.

“We want to align our strategy… with the smartphone as primary data collection point,” Blecher said.

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Tesla Updates Charging Software

Tesla Motors Inc is making changes to prevent overheating of its charging systems, including giving customers upgraded wall adapters and providing charging-software upgrades, the electric-car company said on Friday.

The moves come after a November garage fire involving a Model S in Irvine, California, which the Orange County Fire Authority said may have been caused by a Tesla charging system or by a connection at the electricity panel on the wall of the garage.

At the time, Tesla disagreed with the fire officials’ findings, denying that the charging electronics were related to the fire. A Tesla spokeswoman did not immediately respond to a question on Friday about whether the upgrades were related to the Irvine fire.

In a Friday press release, Tesla said that its goal was to prevent excessive heating of the adapters used to charge its cars. A variety of factors ranging from corrosion to inappropriate wiring of electrical outlets can cause overheating, the company said.

A December tweak to its charging software tackles the issue through reducing charging by 25 percent if the charging system detects fluctuations in power entering the vehicle, Tesla said.

“Tesla believes that this software update fully addresses any potential risks,” the release said. But as a precaution, it said it would make available an improved wall adapter with a thermal fuse for affected customers, staring in a few weeks.

Separately, three road fires in Model S sedans caused Tesla’s stock to fall sharply in October.

The fires occurred in Washington state, Tennessee and Mexico. In the U.S. incidents, Model S sedans caught fire after running over road debris. In Mexico, a Model S caught fire after striking a concrete wall.

On Friday, Tesla’s stock fell 1.23 percent to $145.72, up from levels under $120 in late November but down from its high of $194.50 in late September.

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