USAA Made a Smart Acquisition to Its Car Insurance Team
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Texas-based insurer USAA is acquiring Noblr, a small company that offers personalized car insurance based on driving behaviors through its app.
USAA, which is available to the members of the military and their families, plans to add Noblr’s product lines to its operations, offering customized car insurance with continuous, real-time rates.
USAA did not reveal the purchase price, but the deal is expected to close later this year. The company says this acquisition will make it more competitive by modernizing its offerings, according to Insurance Journal.
USAA is continuing to expand its car insurance offerings | Twenty20
How will USAA and Noblr work together?
Noblr, which launched in 2017, works by scoring your driving to help you save money on car insurance.
Driver scores through Noblr are calculated trip-by-trip. A better score means a better insurance rate. Through the app, you can save money if you drive less, don’t text and drive, brake and accelerate mindfully, take a safer route, and avoid driving late at night. Some scoring factors vary depending on what state you live in.
USAA plans to offer the usage-based program at a state level for the next three years, starting with the eight states where Noblr is currently available. USAA plans to expand the service to additional states through the year.
Noblr currently has 50 employees that will stay on, continuing working with Noblr customers as USAA moves to offer the same products to its own members. The Noblr name is expected to remain for now, with USAA to examine branding opportunities after the acquisition is complete.
Under the new company, Noblr will offer members personalized pricing that fits their risk and usage profile and they will have more control over the cost of their car insurance policies.
USAA: A trusted car insurance company
USAA continues to be one of the most trusted car insurance companies, with some of the best discounts, in the country. Last year, it was even rated one of the top-rated car insurance companies in America, along with State Farm.
In fact, the compay already has a behavior-based program called SafePilot, which also offers savings for safer driving. Noblr and SafePilot will be separate programs at USAA and both will be optional to members. The company says it’s important to have usage-based insurance products for its active military members since they are frequently deployed and mobile.
It also recently announced it is expanding SafePilot, which is currently available in 12 states. There are plans to continue adding new states to the list in 2021.
Save on car insurance with telematics and Jerry
Telemetics programs like SafePilot and Noblr are not the only tools that can help you save on car insurance. Jerry)’s free app compares quotes from over 40 different insurance companies for you in under a minute, making it simple to compare different policies. Without any long forms, Jerry will send you quotes that compare to your current coverage.
As a licensed broker, Jerry takes care of your insurance needs from start to finish. The app also monitors your car insurance rate every six months on an ongoing basis.