INTERNATIONAL - Tesla's use of individual customer data, such as vehicle camera footage and GPS, to price its new insurance products will depend on drivers’ authorization and individual US state laws, a senior company executive said on Wednesday.
“The data is there, it’s all there, cameras in and all around your car, all of the data points are there,” Matthew Edmonds, Tesla’s Head of Insurance, said at an auto insurance conference in Chicago.
“It really comes down to case law, and how much of the data we can utilize. It would have to be a state-by-state proposition,” Edmonds said.
Tesla last week said it was launching an insurance service designed to give drivers in California, its biggest market, lower rates because of safety features on its electric vehicles.
The company did not name an insurance partner, but the California Department of Insurance website showed Tesla was licensed as a broker to conduct business on behalf of the State National Insurance Company Inc, a unit of Markel Corp.