Ford Credit launches auto insurance discount plan

Captive finance companies are joining the search for tools that leverage information about consumers’ driving habits into discounts on auto insurance.

Ford Insure, a product created by Ford Motor Credit Co., is being rolled out state by state, said CEO David McClelland. The product is underwritten by Nationwide Mutual Insurance and its affiliates.

With the move, Ford Credit joins auto insurance firms and providers of F&I products in developing tools that aim to deliver a financial benefit to the car owner by capturing data that historically hasn’t been harnessed.

Set up with a customer’s permission and depending on driving behaviors, a typical premium can be reduced on average by about 20 percent, McClelland told Automotive News.