Branch, which saves customers an average of $598 per year on home and auto insurance, will offer Nextbase Dash Cam customers an additional 8% savings on auto insurance, more than enough to offset the cost of a new Nextbase smart dash cam in the first year. Meanwhile, Nextbase will offer a 10% discount on new dash cam purchases to Branch members.
“Nextbase’s partnership with Branch is a significant first step along the proven path to road safety and insurance savings that we’ve helped pioneer in the UK and Europe,” said Richard Browning, Chief Sales and Marketing Officer of Nextbase. “Nextbase Dash Cams offer safety, security and peace of mind for drivers, knowing that they have an always-on guardian watching over their car and their family, on the road and while parked. With any dash cam from our range, drivers always have immediate access to reliable and irrefutable video evidence in the event of an incident – resulting in time and cost savings for both the driver and the insurance company.”
The partnership is one of the first of its kind in the United States, as dash cams rapidly gain popularity in North America, following other global regions, where dash cams are already considered essential for safe and secure driving. In the UK and Europe, insurance companies have long embraced dash cam ownership as a means to evaluate liability, reduce risk and, as a result, lower insurance premiums. Through this partnership, Nextbase Dash Cams and Branch hope to demonstrate the positive impact dash cams can have on driving behaviors and claims processing here in the U.S.
“At Branch, we’re on a mission to make insurance more efficient and more affordable, leveraging technology and data to help our members save money and building community along the way,” said Steve Lekas, Co-founder and CEO at Branch. “We’re confident that our partnership with Nextbase Dash Cams is the first in a series of meaningful steps that will allow us to work toward making insurance less expensive and our roads safer.”
In many countries, such as Great Britain, dash cam insurance discounts have been standard for years – and with great success. As an example, Sure Thing!, a London-based insurance company, has used dash cam images to reduce average claims processing time by 58% and proven innocence in 37% of split liability claims. In addition, Nextbase Dash Cams recently launched nationwide insurance discount programs for dash cam owners with AXA in Ireland and with Die Bayerische in Germany.
In the UK, one in seven cars in the UK have a dash cam – 80% of which are Nextbase Dash Cams – and all 29 major insurers accept dash cam footage to prove a claim; more than half offer some form of dash cam discount. Further, Nextbase data from the UK shows that 68% of drivers outfitted with a dash cam exhibit a 25% improvement in their driving behavior score – making the roads safer for everyone.
Source: Business Wire
