CINCINNATI, May 18, 2021 /PRNewswire/ -- Cincinnati
Financial Corporation (Nasdaq: CINF) today announced that its lead
property casualty insurance subsidiary, The Cincinnati Insurance
Company, has launched RideWellSM, a dedicated program to
improve all-age drivers' safety, in the additional states of
Illinois, New Jersey and West
Virginia.
In partnership with Cambridge Mobile Telematics (CMT), the
world's leading mobile telematics and analytics provider,
Cincinnati built the new app to
foster peace of mind for parents and to encourage safe driving
behaviors for all drivers.
Will Van Den Heuvel, senior vice
president, Personal Lines, said: "RideWell requires no hardware
installation, all you need is a smartphone. It is a fantastic
addition to the many great features provided today by the
MyCincinnatiSM app. On top of protecting drivers' data
and facilitating access to services, MyCincinnati now protects
drivers from dangerous behavior. The individual tips and the
ability to see how one's score is evolving creates an environment
in which safety is top of mind. We are grateful for the cooperation
of CMT as their experience demonstrates a simple app can make all
the difference when it comes to distracted driving."
In the MyCincinnati app, policyholders can see the scores for
all drivers on the policy, including young drivers. This visibility
allows policyholders to address risky behaviors and improve driving
habits for all in the family.
RideWell, CMT's industry-leading telematics platform, rewards
safe drivers and provides personalized insights based on an
individual driving score. The behavior score is based on five risky
behaviors: speeding, harsh acceleration, braking, sharp cornering,
and phone use. The app shows drivers when and where they were
driving when any of the risky behaviors occurred and generates a
trip score based on CMT's behavioral scoring algorithm.
Each driver with favorable scores may receive an additional
discount up to 18% at annual renewal. This is on top of a 10%
initial discount at sign up - depending on the state and the
driver's age.
Every day CMT analyzes millions of miles traveled by millions of
drivers. Its research indicates that feedback and user engagement
can be impactful on distracted driving, with the top 30% of drivers
on their platform reducing phone distraction by 39% after 30
days.
"When drivers are given the opportunity to save money and
improve safety, they reduce risk for all who share the roads while
taking control of what they pay for insurance," said Ryan McMahon, CMT's VP of Insurance and
Government Affairs. "We are proud to partner with Cincinnati as they provide drivers' incentives
to improve roadway safety."
RideWell is currently available to Cincinnati personal lines policyholders in
Arkansas, Illinois, Kansas, New Jersey, Ohio, Oregon,
Texas and West Virginia. For more information, watch the
video here: https://www.cinfin.com/mobile/ridewell
About Cincinnati Financial
Cincinnati Financial
Corporation offers primarily business, home and auto insurance
through The Cincinnati Insurance Company and its two standard
market property casualty companies. The same local independent
insurance agencies that market those policies may offer products of
our other subsidiaries, including life insurance, fixed annuities
and surplus lines property and casualty insurance.
For additional information about the company, please visit
cinfin.com.
Mailing
Address:
|
Street
Address:
|
P.O. Box
145496
|
6200 South Gilmore
Road
|
Cincinnati, Ohio
45250-5496
|
Fairfield, Ohio
45014-5141
|
About Cambridge Mobile Telematics
CMT is the world's largest smartphone telematics provider,
powering 65 programs around the globe with leading insurers,
automotive manufacturers and mobile network operators. Using mobile
sensing and IoT, machine learning, and behavioral science, CMT's
telematics platform measures driving behavior to empower driver
improvement and reduce risk, provides instant crash alerts and
roadside assistance to drivers in need, and creates a smooth
connected claims process to reduce costs and improve efficiency.
CMT has more drivers on the roads, analyzes more data, enables
smarter choices and gets better results. To learn more, visit
www.cmtelematics.com.
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SOURCE Cincinnati Financial Corporation