General Motors has announced the launch of its new insurance agency, OnStar Insurance Services, which will offer use-based insurance services for GM owners.
GM says OnStar Insurance Services will offer plans that take the “biased judgement out of insurance shopping,” by focusing on factors that are within the customer’s control, such as individual vehicle usage and rewarding smart and safe driving habits.
OnStar’s use-based insurance will work a bit like the telematics devices some insurance companies offer to track a drivers’ behavior to help them get a lower insurance rate, but it uses the data from the embedded OnStar module that comes standard in almost all new GM vehicles rather than a third-party device.
Interestingly, cars equipped with OnStar also have the OnStar Smart Driver system, which is capable of relaying the same data to insurance providers using the OnStar module. The only difference with OnStar Insurance Services is that the insurance plan is coming directly from GM/OnStar, rather than a standard insurance provider.
“OnStar Insurance will promote safety, security and peace of mind,” Andrew Rose, OnStar Insurance Services president, said in a prepared statement. “We aim to be an industry leader, offering insurance in an innovative way. GM customers who have subscribed to OnStar and connected services will be eligible to receive discounts, while also receiving fully-integrated services from OnStar Insurance Services.”
OnStar Insurance Services says it plans to provide customers with “personalized vehicle care and promote safer driving habits,” through its data-based insurance plans. Customers will also be able to receive “proactive recommendations for smarter driving habits,” from their vehicle, which will enable them to potentially earn discounts on their insurance plan.
OnStar Insurance Services will launch sometime in Q4 of this year and will at first only be available to OnStar employees. GM says the service will eventually expand to include ” additional customers, including the general public, in early 2021.” At first, the plans will mainly be based on simple data such as how a driver accelerates and brakes and how often they use their vehicle. Eventually, though, OnStar hopes to take into consideration more sophisticated data, such as tire pressure or how frequently the car’s active safety systems, like automated braking, are forced to intervene.
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