Top 10 telematic insurance providers in the US in 2023
The collection of data to create UBI insurance products is increasing in popularity. From commercial fleet services to consumer cover, protection that is based on the real-time streaming of data results in more accurate risk assessments, faster underwriting and lower-cost premiums. It also provides customers with tailored insurance solutions and incentivises greater road safety and vehicle maintenance.
We’ve listed the top 10 insurance companies in the US that are currently providing and expanding their telematics offerings. The below list has been compiled to reflect the companies themselves, and does not rank them according to size, age or prominence.
#10 Travelers
Travelers is a leading provider of insurance products and services in the United States. The company was founded in 1864 and has a long history of providing customers with innovative and reliable insurance solutions. Travelers offers a wide range of insurance products, including auto, home, life, and business insurance.
The company's insurance products are designed to meet the diverse needs of its customers, whether they are looking for basic coverage or more comprehensive protection. Travelers has a nationwide network of agents and representatives who are available to assist customers with their insurance needs, and the company also offers a range of online tools and resources to help customers manage their insurance policies. With its commitment to providing high-quality insurance services, Travelers has earned a reputation as a trusted and reliable insurance provider.
#9 AAA
AAA (American Automobile Association) is a non-profit organization that provides its members with a variety of services, including travel, financial, and insurance services. AAA insurance group is a subsidiary of the organization and provides a range of insurance products including auto, home, life, and health insurance.
AAA is known for its commitment to providing its members with quality insurance services, competitive pricing, and personalized attention. The company has a network of agents and representatives across the United States, who are available to assist customers with their insurance needs. AAA's insurance products are designed to meet the diverse needs of its members, whether they are looking for basic coverage or more comprehensive protection.
#8 Liberty Mutual
Liberty Mutual is a multinational insurance company that provides a range of insurance products and services to individuals, families, and businesses. Founded in 1912, the company has grown to become one of the largest property and casualty insurers in the United States.
Liberty Mutual offers a variety of insurance options, including auto, home, life, and disability insurance, as well as specialty lines of insurance like pet, identity theft, and travel insurance. With a commitment to providing personalised service, Liberty Mutual's team of insurance experts is dedicated to helping customers find the coverage that best fits their needs.
#7 Farmers
Farmers Insurance is a large insurance company that provides a range of insurance and financial products, including auto, home, life, business, and liability insurance. The company was founded in 1928 and has since become one of the largest insurance providers in the United States. Farmers operates through a network of over 20,000 agents and offers its services in all 50 states. The company's products are marketed under the Farmers brand name.
In addition to insurance products, Farmers also offers investment products, including annuities and mutual funds. The company's mission is to help its customers protect what they have today and prepare for a better tomorrow by providing insurance and financial products that fit their unique needs. Farmers is known for its commitment to customer service and for being a strong supporter of the communities it serves.
# USAA
USAA is a financial services company that provides insurance and other financial products and services to military members and their families. The company was founded in 1922 and has since become one of the largest insurance providers in the United States. USAA's services are offered exclusively to military members, veterans, and their families and are available in all 50 states.
The company provides a range of insurance products, including auto, home, life, and property insurance, as well as investment products, including mutual funds and annuities. USAA's mission is to provide its members with affordable, high-quality insurance and financial products and services. The company is known for its outstanding customer service, innovative technology, and commitment to the military community. USAA is a leading provider of insurance and financial products and services to military members and their families.
#5 Progressive
Progressive Insurance is an American insurance company founded in 1937, providing personal and commercial insurance products. The company is headquartered in Cleveland, Ohio and is the fourth largest auto insurer in the US. Progressive offers various types of insurance such as auto, home, life, and renters insurance, as well as services for boats, motorcycles, and RVs. The company is well-known for its telematics program, Snapshot, which tracks a customer's driving habits using a device plugged into their vehicle.
The data collected from Snapshot helps Progressive determine a customer's driving behavior and offer personalized insurance rates based on their individual driving habits. Progressive is committed to using technology to make insurance easier and more accessible for its customers and is continually exploring new ways to use data to improve its products and services. The company also offers 24/7 customer support and a user-friendly mobile app, making it easy for customers to manage their policies and claims.
#4 Allstate
Allstate is a large insurance company that provides various insurance products including auto, home, life, and property insurance. The company was founded in 1931 and has since grown to become one of the largest insurance providers in the United States. Allstate's services are sold through a network of independent agents and its products are marketed under the Allstate brand name.
The company operates in all 50 states and has over 16 million active policies. Allstate also offers insurance products and services for small businesses and has financial services subsidiaries that offer investment products and retirement solutions. The company's mission is to help people live the good life by protecting them from life's uncertainties and preparing them for the future. Allstate's "Good Hands" brand promise is to provide customers with peace of mind and exceptional service.
#3 GEICO
GEICO is an American auto insurance company that is known for its marketing strategy and use of technology. The company was founded in 1936 and has since grown to become the second largest auto insurance provider in the United States. GEICO's services are sold directly to consumers online, over the phone, and through a mobile app, which has helped it keep costs low and offer lower rates than many of its competitors.
GEICO also offers home, renters, and life insurance products, as well as a suite of insurance products for businesses. The company's mission is to provide customers with easy, affordable insurance and superior customer service. GEICO is well known for its distinctive gecko mascot and catchy advertising slogans.
#2 State Farm
State Farm is a large insurance company that provides a range of insurance and financial products, including auto, home, life, health, and property insurance. The company was founded in 1922 and has since become one of the largest insurance providers in the United States. State Farm operates through a network of more than 19,000 agents and offers its services in all 50 states.
The company's products are marketed under the State Farm brand name. In addition to insurance products, State Farm also offers banking and investment products, including mutual funds, annuities, and life insurance. The company is committed to helping people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm's mission is to help people achieve financial security and lead fulfilling lives.
#1 Nationwide
Nationwide is a large financial services company that provides insurance and financial products and services, including auto, home, life, and commercial insurance. The company was founded in 1926 and has since become one of the largest insurance providers in the United States. Nationwide operates through a network of more than 10,000 agents and offers its services in all 50 states.
The company's products are marketed under the Nationwide brand name. In addition to insurance products, Nationwide also offers investment products, including annuities and mutual funds, as well as retirement planning and trust services. The company's mission is to protect its members from financial harm and help them achieve their financial goals. Nationwide is known for its outstanding customer service and for being a strong supporter of the communities it serves.
