Allstate sees huge demand for it’s Pay-Per-Mile Insurance product

Following numerous stay-at-home orders, increases in work-from-home business policies and other traffic reducing factors, AllState’s MileWise program is seing it’s largest growth since launching.

Allstate’s MileWise has seen significant demand following changes in driving habits due to the pandemic

In fact, demand was four to six times higher in 2020 versus 2019. Meaning, their were 4 times more policies at the end of 2020 and 6 times more vehicles year-over-year. AllState’s MileWise program is now available in 19 states, following recent launches in Wisconsin and Oklahoma and leverages third party hardware which policyholders self install into their OBD ports. A process which takes seconds to complete.

Milewise is targeted at drivers who drive less than 10,000 miles per year. Allstate also offers a usage-based insurance (UBI) product called DriveWise, focused on rewarding good driving habits and behaviour. Allstate Drivewise recently expanded into Canada.

Read more at Bloomberg