SOURCE: True Mileage, Inc.

True Mileage, Inc.

November 05, 2013 17:29 ET

True Mileage Promises Benefits for Drivers and Insurers

New Technology Provides Insurance and Other Savings, Safety, Privacy

LONG BEACH, CA--(Marketwired - Nov 5, 2013) - True Mileage today announced its vision for improving drivers' lives at the Casualty Actuarial Society's annual meeting in Minneapolis during a presentation on the challenges of usage based insurance. The company designs and manufactures devices that connect to a vehicle's data outlet just below the steering wheel. The devices generate an annual summary of mileage, error codes, and other driving information. Drivers have several options for accessing their data, the most popular of which is using smart phones.

True Mileage will help drivers save on insurance, driving costs and improve their safety while, at the same time, respecting their privacy. True Mileage helps insurance companies attract and retain profitable business through their complete usage based insurance solution including vehicle devices, data transfer and analytics.

"We believe drivers will love us because we help them save, insurers will love us because we help them offer lower rates while remaining profitable and everyone else will love us too because we help incentivize a reduction in driving risk, traffic and pollution," said Ryan Morrison, CEO and founder of True Mileage.

True Mileage will offer numerous ways to help drivers save. The company is currently working on partnerships with insurance companies that will allow low-mileage and low-risk drivers to save hundreds on their auto insurance. Drivers will be able to decode check engine light warnings instead of visiting the mechanic; driving tips and summaries will help save on fuel consumption; maintenance costs may decrease with timely reminders and on-site emission testing might be eliminated in the future.

True Mileage will help make drivers safer. The company plans to educate drivers on the risks of nighttime driving, distracted driving, aggressive driving, teen driving and other high-risk driving activity with information and incentives to help reduce accidents, injuries and fatalities.

One of True Mileage's primary focuses is to respect driver privacy. Their technology is specifically designed to benefit drivers without using location tracking. The company's vehicle devices generate summary level driving data that is transferred using the lowest cost and most privacy-sensitive approaches possible.

True Mileage has initiated device testing with several insurers for their usage based insurance programs and additionally expects to begin offering devices direct to drivers later next year.

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