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.
In 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.
Will 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."
In 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.
RideWell, 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.
Each 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.
Every 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.
"When drivers are given the opportunity to save money and improve safety, they reduce risk for all who share the roads while taking control of what they pay for insurance," said Ryan McMahon, CMT's VP of Insurance and Government Affairs. "We are proud to partner with Cincinnati as they provide drivers' incentives to improve roadway safety."
RideWell is currently available to Cincinnati personal lines policyholders in Arkansas, Illinois, Kansas, New Jersey, Ohio, Oregon, Texas and West Virginia. For more information, watch the video here: https://www.cinfin.com/mobile/ridewell
About Cincinnati Financial
Cincinnati Financial Corporation offers primarily business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. For additional information about the company, please visit cinfin.com.
P.O. Box 145496
6200 South Gilmore Road
Cincinnati, Ohio 45250-5496
Fairfield, Ohio 45014-5141
About Cambridge Mobile Telematics
CMT is the world's largest smartphone telematics provider, powering 65 programs around the globe with leading insurers, automotive manufacturers and mobile network operators. Using mobile sensing and IoT, machine learning, and behavioral science, CMT's telematics platform measures driving behavior to empower driver improvement and reduce risk, provides instant crash alerts and roadside assistance to drivers in need, and creates a smooth connected claims process to reduce costs and improve efficiency. CMT has more drivers on the roads, analyzes more data, enables smarter choices and gets better results. To learn more, visit www.cmtelematics.com.
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SOURCE Cincinnati Financial Corporation