Buckle partners with TNEDICCA for auto insurance underwriting
Buckle announced that it will add crash risk data from TNEDICCA to auto insurance underwriting for Transportation Network Company (TNC) Drivers. TNEDICCA is a Columbus, OH-based company that provides location-based crash intelligence to enable more accurate auto insurance pricing.
“Insurance companies underwrite policies for gig drivers based on traditional credit scoring, leaving them with only high premiums. Buckle’s mission is to champion TNC drivers by assessing risk in better ways, which allows us to provide comprehensive auto insurance, whether drivers are on or off the clock, at fair prices. Adding TNEDICCA’s crash risk locations data to our current risk assessment model is helping us to deliver on our mission of providing complete coverage at better rates.” – Sharon Fernandez, head of Buckle’s Insurance Division.
Buckle is utilizing TNEDICCA’s Location-Based Crash Risk Score solution, which calculates risk based on actual accident hotspots around a specific location. TNEDICCA provides location risk solutions which are built based on more than 30 million crashes generating average loss ratio lift of 38 percent. Its Usage-Based Risk Score solution is also helping Buckle account for telematics data beyond driving behaviors by assessing crash risk of actual route coordinates by date and time of trips.
“We are excited to collaborate with Buckle to bring fair and accurate insurance pricing to the rideshare economy. Working with Buckle dovetails well with our ultimate mission of reducing traffic accidents through a better use of data and analytics with a focus on bringing fairness and safety to this market.” – Yiem Sunbhanich, co-founder and CEO of TNEDICCA.
Buckle expects to expand its relationship with TNEDICCA to utilize its risk avoidance, enhanced safety, and improved driver engagement capabilities.