Hyundai is making strides in the field of big data by partnering with Verisk, a leading data analytics company. This collaboration aims to provide usage-based insurance options for its customers. This initiative could potentially lead to savings on insurance costs for Hyundai owners, contingent upon their willingness to share personal data.
Hyundai vehicles equipped with the BlueLink telematics system will transmit data to the Verisk Data Exchange, a comprehensive repository of automotive data utilized by insurance firms for rate calculations. Customers who choose to participate will receive a Verisk Driving Score, which reflects their driving habits. Those who exhibit low-risk driving behaviors, or who simply drive less frequently, may qualify for reduced insurance premiums.
Although some insurance providers already offer discounts for safe driving, these typically require a physical device to be connected to the car’s OBD-II port. Hyundai’s method simplifies this procedure significantly.
The Verisk Data Exchange serves as a central hub for insurance data, currently encompassing information from 3.3 million vehicles that have collectively traveled 36.5 billion miles, as reported by Hyundai, with 150,000 new vehicles contributing data each month. Verisk also tracks data from smart home devices.
Participation in data sharing with Verisk is voluntary. However, all new Hyundai vehicles, starting from the 2018 model year, are equipped with BlueLink, offering features such as remote vehicle start, door locking and unlocking, climate control adjustments, a vehicle locator, theft tracking, and roadside assistance. Buyers of new cars receive these services at no cost for the first three years. Access to BlueLink is available through buttons on the rearview mirror, mobile apps for smartphones and smartwatches, as well as an Amazon Alexa skill.
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