GM’s OnStar Insurance To Be Available In All 50 States By Early 2022
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General Motors has announced that the automaker’s OnStar Insurance service will be available in all 50 U.S. states by early 2022, arriving as one of roughly 20 new startups GM currently has in the pipeline.
During the recent GM Investor Day event, vice president of Global Innovation, Pam Fletcher, discussed OnStar Insurance and plans to expand the service beyond the current availability.
“In just 10 months, OnStar Insurance became available in 38 states,” Fletcher said during her presentation at GM Investor Day. With plans to rollout OnStar Insurance in all 50 U.S. states by early 2022, the service will be one of the “fastest nationwide rollouts of an auto insurance product,” Fletcher stated.
For those readers who may not know, OnStar Insurance Services is a use-based insurance service specifically for GM owners, promising to take the “biased judgement out of insurance shopping” with a focus on factors that fall within the customer’s control, such as individual vehicle usage and rewards for safe driving habits.
Using embedded technology, OnStar Insurance can track vehicle usage and driving habits, using data to offer discounts and incentives to those drivers who practice safe driving. The data is contextual, which means OnStar Insurance can also more accurately assess potential risk factors.
Data collection is just one of three pillars supporting OnStar Insurance that helps it stand out from other insurance products. Given the inclusion of OnStar technology on GM vehicles right from the factory, OnStar Insurance also has “access to customers at moments that matter,” including at the time of vehicle purchase, service, and ongoing operation, which means GM doesn’t need to dole out extra funds for advertising to get customers’ attention.
Finally, OnStar Insurance can leverage the GM Ecosystem, allowing for seamless integration with other elements of the General Motors customer experience, from vehicle purchase, and throughout ownership, as well as integration with other vehicle elements, such as incentives for opting into enhanced safety packages.
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But Elon Musk said Insurance is “HARD” and takes years to deploy across all states… 🙂
Because it’s not GM’s insurance. Like most things GM does, it’s from a supplier. In this case, they’re the middleman to American Family Insurance, also marketed under Ameriprise and Costco brands.
Kinda Like Tesla, Tesla does not underwrite the policy, Tesla is just acting as the agent, and buy the coverage in bulk.
State National Insurance is Tesla’s underwriter.
Ameriprise. -shudder!-
20 new startups, currently has in the pipeline. vice president of Global Innovation, leverage the GM Ecosystem. seamless integration with other elements of the General Motors customer experience, seamless integration with other elements of the General Motors customer experience. Who is paid to come up with this cliche corporate bS speak? Once its first used everyone jumps in and beats it to death…… Makes my eyes role automatically upon reading it, Hearing it is worse!
And a great many investors are too dumb to really understand what it really means but, because it sounds professional and confident, buy the stock.
And Let’s just overlook that half of GM’s business is in China and the US has put Marines on Taiwan to deter an invasion. This if it blows couldn’t cause issues for American businesses? Never!
Data collection for insurance purposes is not legal in California. In addition, my Camaro was designed for harder than normal braking. My rotors had to be changed to a high carbon version because of this issue.
What is important is the premium for the insurance and what benefit I get! OnStar is also good, but if every trip is documented (black box) I no longer see any privacy here.
Whoever wants this should have it and you have to consider leasing vehicles that is already good.
Since I have always bought my many used old (7-34 years) vehicles (10x cars + 3x motorcycles + 2x trailers) in cash, OnStar insurance is not for me. I don’t want Musk insurance either.
It would be more important to me if in the USA, by the way, as in Austria, swap plates for 3 vehicles would be possible for an insurance and premium. Also applies to the state tax for vehicles. The advantage would be that fewer vehicles are on the road at the same time. That would be really ecological as always, but the state and the insurance companies earn less MONEY!
Incidentally, this is why the exchange number was not used in Germany either, since the then Finance Minister Schäuble did not tolerate this for private citizens. Ecology fails because of the state’s desire to have citizens pay high taxes even if the vehicles are just standing around!
So happy time and hope the weather stays nice in Central Europe this weekend.
Understand such information can also be used against you.
Is that the same with every customer card? You have become 100% transparent!
Unfortunately, when you have something more like a neighbor or a civil servant, envy is logical. The data on the customer cards are often sold and one wonders why one suddenly receives advertisements and calls. With insurance, no matter which one, it is even worse because the authorities and tax offices then check the citizens. I experience this a lot, but since I pay my taxes, it doesn’t really matter to me, but I don’t like it. But you can successfully sue for data protection!
30% higher than with my current ins. co. no bargain for me