Usage-based products give auto insurers an advantage, Moody's says

12/22/2011 | PropertyCasualty360

Auto insurers are poised to earn "a significant competitive advantage" in policy retention and pricing for offering usage-based insurance products, according to Moody's. "Adopting UBI sooner rather than later will not only attract better drivers willing to participate, but will also allow carriers to build and maintain a database on numerous variables that influence loss costs," the ratings firm said.

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