Helping auto insurance customers earn safe driving discounts sooner
In 2021, we made several enhancements to the popular SmartRide® program, which uses technology to allow customers to earn an auto insurance discount of up to 40% for safe driving. The enhancements offer several new benefits to customers, including helping them earn a discount in as little as 80 days. Customers can also continually improve their discount at each policy renewal, up to 40%, without having to re-enroll in the program. Finally, in response to customer feedback, a new scoring model removes idle time from the factors that determine the discount. These SmartRide enhancements are available now in certain states and will be rolled out aggressively throughout 2022.
to help reduce workplace injuries
In 2021, Nationwide made a venture capital funding in Kinetic, makers of a smart wearable device and software platform designed to reduce workplace injuries, which cost U.S. employers almost $60 billion in 2020.
A new subsidiary of Kinetic, Kinetic Insurance, has now entered into an underwriting agreement with Nationwide E&S/Specialty to offer workers’ compensation insurance. It is one of the first technology-led, proactive policy offerings in the industry.
The solution is a device that helps workers move with better body mechanics by providing real-time feedback in the form of a vibration to the wearer, reinforcing safer body mechanics every time a risky motion occurs. An accompanying dashboard helps managers understand where their next injury might happen by showing increases in risk by department, time of day or job type. This partnership is another example of our use of technology to help businesses protect their workforce and make smarter safety decisions.
At Nationwide Retirement Solutions, we delivered a more streamlined experience by launching online withdrawals and a withdrawal tracker for participants. We also rolled out a new pre-login web experience for governmental retirement plan participants that delivers educational resources to help participants prepare for retirement.
A new Plan Sponsor Task Center automates notifications for plan sponsors, who can then easily complete key administrative tasks, reducing manual processes. Plan sponsors also have access to a new dashboard that allows them to simplify their experience.
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We expanded our venture capital funding to invest in technology startups that accelerate new ways of adding value for our customers.
Nationwide Financial launched a new apprenticeship program, continuing our long-standing commitment to diversity, equity and inclusion.
Agencies that earn Farm Certification from Nationwide grow their farm book of business faster and differentiate themselves in the marketplace.
Our Personal Lines Claims team uses data and technology to design personalized experiences with the customer at the center.
We are blending solutions that balance simplified, digital self-services with comprehensive support from Nationwide associates. We are working daily to earn customers’ trust.