SEATTLE, November 14, 2022 /PRNewswire/ — Milliman, Inc., the world’s leading consulting and actuarial firm, today announced that Pouch Insurance Services has selected Milliman AccuRate FleetMT as a platform for usage-based insurance scores. AccuRate Fleet is a usage-based insurance score designed to enable more accurate pricing of fleet exposure and driving behavior risk. Developed by Milliman actuaries and data scientists, AccuRate Fleet is based on more than a billion miles of commercial automobile driving data and thousands of crashes.
“The Milliman AccuRate score allows us to provide extremely fair and accurate pricing to our customers and rewards them with lower rates for safe driving and managing their fleets,” says Steve McKay, CEO of Pouch. “Milliman’s combination of statistical and regulatory expertise made this process a win for us.”
Milliman AccuRate Fleet is a risk score linking driving behavior to the likelihood of an accident, and enables commercial auto insurers, MGAs and startups to better match price to risk and improve customer retention with safe driving habits. Unlike existing telematics scores, AccuRate Fleet is developed using over 2.7 billion miles of commercial automotive data. These scores have been reviewed and approved by state insurance regulators for use in rating.
“We are delighted to help Pouch accelerate the launch of its innovative commercial automotive program,” said Peggy Brinkman, director and consulting actuary of Milliman. “The Milliman AccuRate Fleet Score not only helps programs like Pouch’s Best Risk Fit Rate, but also speeds time to market as it has been approved in 27 states and continues.”
To learn more about Milliman AccuRate Fleet, visit https://us.milliman.com/en/products/milliman-accurate-fleet
Milliman is one of the world’s largest providers of actuarial and related products and services. The firm has consulting practices in the areas of health, property and casualty insurance, life insurance and financial services, as well as employee benefits. Founded in 1947, Milliman is an independent company with offices in major cities around the world. For more information, visit milliman.com.
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Pouch rewards small businesses for safe driving. With instant quotes, simple enrollment, and discounted rates based on what you actually drive, Pouch offers a faster, smarter way to buy commercial auto insurance. With Pouch, small business owners can better track and manage their fleet and lower their bills. Learn more about pocketinsurance.com.