Tesla Unveils “real-time driving behavior' insurance product
Tesla is elevating the game of data-driven insurance - and that is amazing for the insurance industry and the driver. When data is used, everyone wins. There is no need for guesswork insurance policy writing in this age of data.
Tesla’s new insurance product—based on “real-time driving behavior'—could help drivers save money, the company claims. To calculate the premium, the electric car maker will rely on a driver’s “safety score,” via the Full Self-Driving (FSD) Beta version released in September, which takes into account braking, turning, tailgating, forward collision warnings, and forced autopilot disengagements to predict the probability of a collision.
The cars collect “enormous amounts of data to assess the attributes of drivers and whether those attributes correlate with safety,” chief financial officer Zachary Kirkhorn explained during an Oct. 20 earnings call.
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