August 1, 2012 – On Wednesday, Aug. 1, DTRIC Insurance will begin offering Akamai Rater, Hawaii’s first program that aligns individual driver behavior with auto insurance rates.
DTRIC’s Akamai Rater uses a small, in-vehicle telecommunications device to capture information on a number of driving variables, including aggressive driving, time of day, excessive speeding, and hard braking. This information allows a customer’s insurance rates to better correlate with his or her actual driving behavior, creating an overall fairer insurance system.
The convenient Akamai Rater device simply plugs into a vehicle’s on-board diagnostics port (standard in most vehicles sold in the U.S. from 1996 on) and begins capturing driving behavior data. That driving data is downloaded and posted to a user-friendly online dashboard, allowing a driver to regularly track and improve upon his or her own driving behaviors based on the information that is presented.
“Akamai Rater will put Hawaii drivers in control of their insurance rates, giving them the power to save up to 40 percent,” explains Linh DePledge, vice president & chief marketing officer at DTRIC. “More importantly, though, we believe that the kind of feedback Akamai Rater provides will allow Hawaii drivers to monitor, adjust and improve their driving habits and become safer drivers on the roads that we all share as a community.”
Although DTRIC is the first carrier to offer this type of product in Hawaii, usage-based insurance (UBI) is a clear industry trend both domestically and globally. According to a February 2012 survey conducted by Towers Watson, a leading global professional services company, 89 percent of personal lines insurer surveyed in the U.S. and Canada have implemented or plan to use UBI technology in their insurance rating. UBI technology is already widely used in Europe, where some European vehicle models are being manufactured with the telecommunications devices built-in.
DTRIC’s Akamai Rater program was developed exclusively for Hawaii drivers and is powered by Octo Telematics North America, a global leader in insurance telematics technology.
People interested in learning more about DTRIC’s Akamai Rater or wanting to sign-up for the program are encouraged to contact DTRIC at 792-0040 or 1-877-792-0040 (Neighbor Islands toll free). More information can be found online atwww.DTRIC.com/AkamaiRater.
DTRIC Insurance Group is a Hawaii’-based insurer of personal automobile, homeowners, renters, umbrella, worker’s compensation and general casualty insurance rated A- (Excellent) by A.M. Best Co. DTRIC is committed to providing its policyholders and agents with innovative, value-added products at competitive prices while maintaining service with the aloha spirit. The company also provides products and services to policyholders using multiple independent agent channels throughout the state of Hawaii. For more information, visit www.DTRIC.com.