The Generali Group and The Progressive Group of Insurance Companies, among the world leaders in the field of telematics applied to car insurance, have signed a Research and Development agreement to strengthen their respective skills in the field of data analytics and enhance the offer of products. The two companies communicate it.
“Thanks to this partnership – specifies the press release – the two groups will share their knowledge in the telematics sector, benefiting from synergies and the sharing of common skills and objectives. Building on the leadership experiences gained in their respective reference markets, Generali and Progressive will further develop their customer behavior profiling systems in order to design innovative telematics products that reward the most safety-conscious motorists, helping them to improve their driving style through an individual feedback system”.
Valter Trevisani, Chief Insurance Officer of Generali, points out that "the partnership with Progressive allows Generali to accelerate the execution of the strategy linked to Connected Insurance and advanced analytics". Pat Callahan, Personal Lines President at Progressive Insurance, added, “Progressive pioneered the use of telematics in the US auto insurance market and is constantly making improvements to this technology for the benefit of customers. Consumers are choosing to join our voluntary Snapshot program with increasing frequency, and we know that their “key behaviors” driving – such as actual miles driven, braking and times of driving during the day – offer twice the predictive power higher than traditional rate variables, such as driver demographics and the year, make and model of vehicle insured”.
