Milliman AccuRate Fleet® is a usage-based insurance score designed to enable more accurate pricing of fleet exposure and driving behavior risk. Developed by Milliman actuaries and data scientists, AccuRate Fleet is based on over a billion miles of commercial auto driving data and thousands of crashes.
After 20 days of driving activity, AccuRate Fleet calculates a risk score between zero and 1000, similar to a credit score, based on inputs reflecting fleet driver behavior and vehicle exposure.
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Press release
Milliman launches AccuRate Fleet at InsureTech Connect 2020, introducing new telematics-based risk score for commercial auto insurers, MGAs, and start-ups
Usage-based insurance (UBI) is transforming private passenger auto insurance, and effective telematics safety programs are reducing claim frequency in commercial auto insurance.