World News – USA – Credit Karma launches Karma Drive, an easy way to qualify for a discount auto insurance in just 30 days

With Karma Drive, Credit Karma members in the U. . S.. . can see if they are getting a discount on new auto insurance from Progressive Insurance

OAKLAND, California. – (BUSINESS WIRE) – Credit Karma, LLC, the consumer technology platform with more than 110 million members in the United States. S.. . , Canada and U. . K. . continues to expand its auto insurance offering with the launch of Karma Drive, a usage-based savings opportunity for Progressive® insurance for Credit Karma members in the United States. S.. . With Karma Drive, members can easily get a discount on auto insurance based on their actual driving behavior without having to purchase a new policy before they can see how much money they can save.

Karma Drive equips its U. S.. . Members with an easy way to save on their auto insurance by partnering with usage-based insurance manager Progressive Insurance. When Americans get back on the streets and get back to work, there’s no better time to see if their driving qualifies them for savings on new auto insurance. In addition to the potential savings, Karma Drive will provide consumers with insights into driving and provide feedback to make them aware of their driving behavior.

« For many of our members, a vehicle is their greatest and most expensive asset, » said Rory Joyce, Senior Director of Product at Credit Karma Auto. “Karma Drive fulfills our vision of making our members’ car costs transparent, fair and accurate, and offers the easy way to potentially save money on their car insurance. Plus, it might even help them become aware of how to drive more safely. ”

Credit Karma members can access a 30-day test drive directly via the Credit Karma app, during which they receive comprehensive feedback on their driving in real time. During the test, members only drive on their mobile phones – no additional download app or telematics device is required. Members will be notified within 30 days if they are eligible for a discount on Progressive Auto Insurance if they are not already a Progressive Policyholder. Typically, usage-based insurance options are available after a consumer purchases a policy. However, with Karma Drive, members can see how much they can save without buying a policy.

Just as Credit Karma is known for providing members with actionable insights and tips on building their credit, Karma Drive also helps them improve their driving habits with the aim of helping members qualify for a policy discount. Saving money has never been easier – there is no need to download additional apps, install plug-in devices, or call agents. Just go ahead and check out the Credit Karma app for 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 money on auto insurance. We are excited to partner with Credit Karma to bring this unique value proposition to their customers, ”said Jim Haas, Progressive Usage Based Insurance Business Leader. “This is an exciting opportunity for potential auto insurance savings on a platform that consumers trust and that they visit regularly for financial assistance. ”

This news follows on from Credit Karma’s growing advances in the auto business, which saw triple-digit growth in 2020 as many consumers turned to Credit Karma to help them take control of their finances during these troubled times. More than 16 million members have synchronized their vehicles with the platform. Credit Karma plans to build on this momentum in 2021 to enhance its auto insurance experience by introducing new and innovative ways to offer consumers more choice and savings in auto insurance.

Credit Karma remains an independent party with no plans to become an insurance carrier. Instead, Credit Karma has partnered with Progressive, the pioneer in usage-based insurance, to offer its members an easy way to save money on their auto insurance.

To capture and analyze driving signals as part of the Karma Drive experience, Credit Karma has partnered with Zendrive, the leading platform for Mobility Risk Intelligence that enables insurance partners to accurately predict and draw risks.

(1) Karma Drive is not available in the following states: AK, AL, CA, HI, MA, NC, NY, VA, WA, FL, SC

Auto, homeowner, and renter insurance services offered through Credit Karma Insurance Services, LLC (dba Karma Insurance Services, LLC; CA Resident License # 0172748).

Founded in 2007 by Ken Lin, Credit Karma is a consumer technology company with more than 110 million members in the United States. K. . and Canada, including almost half of all U. . S.. . Millennials. The members of the company are known for their groundbreaking free credit scores. However, they do turn to Credit Karma to learn everything to do with their financial goals, including identity monitoring, applying for credit cards, purchasing loans (auto, home and retail), high-yield savings accounts, and checking accounts now through our banking partner MVB Bank, Inc. . , FDIC member – all for free. Learn more about how Credit Karma members are making financial progress on Instagram, Facebook, and Twitter.

Credit Karma, Progressive Corporation, Finance, Auto Insurance