Press release
The Cincinnati Insurance Company Partners with Cambridge Mobile Telematics to Reduce Distracted Driving
CINCINNATI, May 18, 2021 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that its lead property casualty insurance subsidiary,
About this update from Cincinnati Financial Corporation
[{"type":"text","content":"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.\nIn 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.\nWill 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.\"\nIn 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.\nRideWell, 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.\nEach 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.\nEvery 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.\n...