Mercury Insurance has launched a usage-based insurance app, MercuryGO, that it said could save customers up to 40% or more on auto insurance.
The app, available to drivers in New Jersey, also acts as a virtual driving coach, providing skill scores that give real-time feedback about driving behaviour.
The MercuryGO app generates a driving skill score, which is calculated based on categories that are closely correlated with car crashes: excessive speeding, hard braking, distracted driving (i.e., phone motion and screen interaction), and road type.
Mercury Insurance (MCY) is a multiple-line insurance organisation predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents across several states in the US.
Mercury auto insurance policyholders who enrol to use the app immediately receive a 5% participation discount and teen drivers will receive up to a 10% discount. Then, when MercuryGO customers renew their policies, they could receive a discount of up to 40% in addition to their participation discount, depending upon their driving score.
Mike Dawdy, Mercury insurance director of product management, said, “The benefits of MercuryGO is twofold: The app will help drivers be safer, which contributes to the ultimate goal of reducing fatalities and serious injuries. It will also help drivers save a lot of money on their premiums… All of this practicality will be at your fingertips in our easy-to-use app.”
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