January 18, 2001
Insurance by The Minute
Insurance by The Minute
An experiment by Ohio-based Progressive Corp., however, could eventually change that. Progressive has fitted the cars of some of its Texas drivers with videocassette-size Global Positioning Satellite (GPS) devices. The devices, which sit behind the dashboard, track the number of minutes customers drive, as well as where they drive and when. The insurer then uses this information to set each customer's premium.
Posted by rshah at January 18, 2001 12:00 PM