Ford employs computer vision to cut car insurance costs

  • May 26, 2021
  • William Payne

Ford is teaming up with insurtech firm Mile Auto to provide affordable car insurance based on mileage to low mileage drivers. Mile Auto employs computer vision and decision analytics to offer lower cost insurance to drivers who meet its metrics.

Ford owners who drive under 10,000 miles per year could potentially save between 30% and 40% off their current rates.

Mile Auto aims to provide a low cost and more privacy-secure route to mileage-based insurance. The company works with onboard telematics data from current Ford models. Drivers do not require smartphones, mobile apps or additional hardware to take advantage of lower rates.

“At Ford, we are focused on ways to improve our drivers’ experiences through connectivity,” said Tim Meek, North America digital insurance manager for Ford Enterprise Connectivity. “Today, some of us are spending less time in our cars and keeping an even closer eye on ownership costs as a result. Our relationship with Mile Auto provides connected Ford customers with a better way to align their auto insurance expenses with actual usage and is part of Ford’s commitment to customer experience innovation through connectivity.”

“Ford’s commitment to innovation does not stop simply with its vehicles; it extends to the overall customer experience,” said Fred Blumer, CEO of Mile Auto. “By teaming up with Mile Auto, Ford is able to offer its customers an added benefit of fairer auto insurance pricing, made possible by advanced technologies already in drivers’ vehicles.”

In 2019, Mile Auto launched a programme with Porsche Financial Services.

Mile Auto insurance is currently available in Arizona, Georgia, Illinois and Oregon. The company expects to expand its coverage to 50% of the U.S. auto insurance market by the end of 2021.