I have mentioned here and in a couple of other venues my understanding that a certain large insurer has patented the algorithms associated with mileage-based or usage-based auto insurance, complicating possible adoption of “pay by the mile” or GPS-rated insurance.
It may be that my understanding wasn’t as complete as I thought.
I noticed some interesting news in InsureMe Agent Blog:
This summer, MileMeter will launch their pay-as-you-go auto insurance policies, charging drivers for coverage based on how often, when and where they use their cars. Unlike its British predecessor, however, MileMeter won’t install any kind of tracking device inside the insured’s car.
MileMeter has an operational website already, which goes into more detail about their plans.
