With Karma Drive, Credit Karma members in the U.S. can see if they qualify for a discount on a new auto insurance policy from Progressive Insurance
Credit Karma, LLC, the consumer technology platform with more than 110 million members in the U.S., Canada and U.K., continues expansion of its auto insurance offerings with the launch of Karma Drive, a usage-based insurance savings opportunity from Progressive® for Credit Karma members in the U.S. Karma Drive allows members an easy opportunity to potentially obtain an auto insurance discount based on their actual driving, with no requirements to purchase a new policy before seeing how much money they can save.
“Karma Drive delivers on our vision to bring transparency, fairness and accuracy to our members’ auto expenses with an easy opportunity to potentially save money on their auto insurance. Plus, it might even help them become more aware of ways to be a safer driver.”
CREDIT KARMA’S POSITION
Karma Drive equips its U.S. members with an easy opportunity to save on their auto insurance by collaborating with the usage-based insurance leader, Progressive Insurance. As Americans return to the roads and start heading back to work, there is no better time to see if their driving might qualify them for savings on a new auto insurance policy. Beyond potential savings opportunities, Karma Drive will equip consumers with driving insights and provide feedback to make them more aware of their driving behaviors.
“For many of our members, a vehicle is their largest and most costly asset,” said Rory Joyce, senior director of product, Credit Karma Auto. “Karma Drive delivers on our vision to bring transparency, fairness and accuracy to our members’ auto expenses with an easy opportunity to potentially save money on their auto insurance. Plus, it might even help them become more aware of ways to be a safer driver.”
HOW IT WORKS
Credit Karma members can access a 30-day driving trial, directly from the Credit Karma app, where they will receive continuous real-time, rich feedback on their driving. During the trial, members just drive with their mobile phone on them — no additional app to download or telematics device required. In as few as 30 days, members are alerted if they qualify for a discount on a Progressive auto insurance policy, if they are not already a Progressive policy holder. Typically, usage-based insurance opportunities are attainable after a consumer purchases a policy, but with Karma Drive, members get to see how much they could save without purchasing a policy.
WHY IT MATTERS
Just like Credit Karma is known to provide members with actionable insights and tips to help them build their credit, Karma Drive does the same to help them improve their driving habits, with the goal of helping members qualify for a policy discount. Saving money has never been easier — no additional apps to download, plug-in devices to install or agents to call, just hit the road and check the Credit Karma app for driving feedback and a potential premium discount offer from Progressive. Karma Drive is currently available in 39 states and will expand to 41 states in 2021.(1)
“Progressive continues to innovate and make it easier for good drivers to save on auto insurance. We are thrilled to collaborate with Credit Karma to bring this unique value proposition to their customers,” said Jim Haas, Progressive’s Usage Based Insurance Business Leader. “This is an exciting opportunity for potential auto insurance savings on a platform that consumers trust and visit regularly to seek financial guidance.”
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