About DriveFactorDriveFactor provides a data capture device that drivers plug into their vehicle and a private consumer friendly website that shows drivers their driving habits, routes, recommendations for improvement, and a unique DriveFactor status. In addition, DriveFactor provides insurance companies with a turn-key software platform that enables usage based insurance (UBI) programs. DriveFactor has created an elegant UBI platform that is statistically more predictive and financially more attractive for insurance companies to implement, as well as a privacy-sensitive, financially equitable offering for consumers. DriveFactor is currently available in the Unites States and Europe. For additional information, please visit our website www.drivefactor.com and our blog ( www.drivefactor.com/category/blog), or Like Us on Facebook and Follow Us on Twitter @ Drive_Factor and YouTube ( www.youtube.com/user/MyDriveFactor).
DriveFactor, a trusted source for driving data and analytics, today announced that Founder and CEO, Steve McKay, will speak at the Insurance Telematics USA 2012 Conference in Chicago, IL on Thursday, September 6, 2012 at 10:10am CT. McKay will speak on a panel titled, “ Understanding the Urgency of Usage Based Insurance,” which will address the business case for UBI, why insurers need to consider offering a UBI product in order to enable a balanced risk pool, as well as how to leverage ‘big data’ strategies to create targeted UBI solutions and collaborate with the OEMs. McKay will be joined by fellow panelists John Canali, Analyst, Strategy Analytics; Jon Inquimboy, Associate Product Manager, eSurance; Rob Martin, Director of Operations, Octo USA; and John Kramer, Standard Auto Product Development Manager, Nationwide. “In 2012, the UBI market has reached a tipping point in the United States, with more than a million drivers accessing auto insurance discounts via enrollment in UBI programs,” stated McKay. “There's an enormous surge in marketing, led by the top U.S.-based insurers, which is driving increased awareness and adoption by drivers. Insurers' keen interest in UBI is fueled by the confluence of multiple technologies, lower costs, and higher value programs. When insurers develop and launch their UBI programs, it's with an eye toward realizing the key benefits derived from enhanced underwriting and segmentation profiling, attracting the best drivers to your risk pool, and avoiding adverse selection. I'm honored to be included on this particular panel—this conference should prove to be highly informative and illustrative of the best of what UBI can offer.” The Insurance Telematics USA 2012 conference is being held at the Radisson Blu Aqua Hotel in Chicago, IL from September 5-6. The conference will bring together more than 450 decision makers from across the insurance, wireless, telematics, regulatory and fleet industries. More than 30 sessions will discuss critical topics from IP and privacy strategies to building UBI smartphone platforms.