True Mileage to exhibit and speak during various sessions at one of the year’s premier insurance events: CAS RPM 2015
Online PR News – 09-March-2015 – Dallas, Texas – True Mileage, Inc., a usage-based insurance (UBI) technology and analytics provider, announced today that it is exhibiting and speaking during various sessions at the Casualty Actuarial Society’s Ratemaking and Product Management (CAS RPM) Seminar in Dallas, March 9-11, 2015.
The 2015 Ratemaking and Product Management Seminar & Workshops provide educational opportunities on ratemaking, predictive modeling and product management. The RPM seminar will provide a forum for actuaries, underwriters, and other insurance professionals to further their continuing education and stay current as professionals. With the recent explosive growth and interest in UBI, CAS RPM is dedicating an entire track to this topic.
UBI experts at the Insurance Telematics 2014 conference voted Hybrid Solutions, like those used by True Mileage, to be the dominant UBI technology solution for the next five years. True Mileage CEO Ryan Morrison will speak in a key session covering “UBI Technology: A Plethora of Options” on March 10th, at 12:30 p.m. Morrison notes, "We expect our basic mail return devices and unique NFC hybrid devices to garner significant interest. True Mileage devices overcome existing privacy concerns, cost issues associated with traditional devices, and reliability and battery drain issues of most stand-alone app approaches."
"The convergence of affordable data collection devices and mobile applications, and the emergence of innovative TSPs (Telematics Service Providers) such as True Mileage are adding to the ever-growing volume of driving data available to insurers. Telematics data exchanges like the ATG Clearinghouse will play a critical role in connecting insurers with these many sources of TSP-generated driving data from their policyholders interested in opting into a UBI policy," says Chris Carver, President of ATG Risk Solutions. Carver will be moderating a session on “Improving Rating Accuracy and Segmentation for Commercial Lines Policies” at 8:00 am on March 11th.
The conference also has a track dedicated to advanced analytic techniques. "These sessions present great educational opportunities for actuaries to learn about the latest statistical techniques and how they can be applied in the insurance industry," says True Mileage Lead Statistician Daniel Hernandez-Stumpfhauser, PhD. Hernandez and Morrison will speak during the “Tour of Non-GLM Modeling Techniques” session at 8:00 a.m. on March 11th. "I look forward to sharing some details on our Mileage Discount Analytics and Daytime Discount Analytics research as examples," says Morrison.
"True Mileage analytics uniquely isolate mileage from other rating variables," said Fred Blumer, CEO of Vehcon, Inc. "Together, we offer insurers a powerful, turnkey verified mileage solution for rating and underwriting, as well as for mileage-based pricing programs." Vehcon offers a cost efficient, smartphone-based system to capture and report verified mileage regularly, reliably and with 100% accuracy. Blumer with be hosting a roundtable discussion on “The Emerging Technologies of UBI” at 10:00 a.m. on Tuesday March 10th.
Another UBI-focused roundtable discussion is scheduled for 7:00 a.m. on March 10th covering “The Agent’s UBI Experience.” True Mileage CFO Wayne N. Morrison, CPCU, will host this session and notes, "The role of the agent has been overlooked in most UBI roll outs. With proper incentives and training agents can play a key role in educating drivers and improving their UBI experiences."
True Mileage will exhibit at the conference and will be available to meet with conference participants in Booth #8 in the exhibit hall. For the complete CAS RPM 2015 agenda and speaker line-up, visit www.casact.org/rpm. For more information on True Mileage please visit www.truemileage.com.
ABOUT TRUE MILEAGE:
True Mileage, founded in 2012, is focused on helping drivers save on insurance and other vehicle costs, improving their safety, and respecting their privacy. The company produces devices that connect to a vehicle’s data outlet just below the steering wheel and generates a summary of mileage, error codes, and various other driving information. Drivers may simultaneously view and transmit their entire driving history by simply tapping their True Mileage device with a modern smart phone.
For insurers True Mileage is the only provider of technology and analytics for usage-based insurance (UBI). The patent pending telematics technology developed by True Mileage results in significantly lower device and data transfer costs while reduced privacy concerns and readily available data for drivers are expected to increase adoption. True Mileage UBI analytics are based on massive unbiased national datasets resulting in discounts that alleviate potential double-discounting with existing rating variables and ensure accuracy and profitability.