Contact: Safeco Media Relations
Paul Hollie, 206-545-3048
Lee Somerstein, 206-545-3047
Safeco Launches Teensurance™
Insurer to use technology to get young drivers off to good start
Teensurance allows parents to have a different kind of conversation with their teens about driving and the responsibilities that come with a driver’s license. The new offering will be available to consumers nationwide beginning June 27, 2007.
Teensurance is unique because it bundles an entire suite of technology and services designed to create a safer environment for young drivers, while offering new levels of comfort for parents. Using a GPS-based device – the Safety Beacon™ – and online tools to reinforce good driving habits, Teensurance gives parents tangible assurance about their teen’s driving behavior by delivering real-time notifications.
Safeco customers with auto insurance policies can register for Teensurance and access a secure Web portal with materials and services to help them establish a safe driving plan with their teen. Beyond its tangible benefits, Teensurance enhances the most important parenting tool: communication. By using this safety program, parents and their teens are encouraged to enter into an ongoing dialogue about good driving habits.
The program provides benefits for both sides of the dialogue. Parents and their teens can agree on the speed, distance, location and curfew limitations. Notification is transmitted in real time to parents’ computers, home phones, cell phones or other mobile devices when limits are exceeded.
For teens, there is 24/7 roadside assistance and, if they lock their keys in the car (and it has automatic door locks) they can use their mobile phone to remotely unlock the vehicle. Most importantly, teens can prove to their parents they drive responsibly and gain additional driving privileges.
“At Safeco, we believe the most important work we can do for our customers is to help keep their families safe. People would rather have ‘assurance’ than ‘insurance,’” said Paula Rosput Reynolds, president and chief executive officer of Safeco.
“The Northwest is a hotbed of technological innovation, and that’s fueling Safeco’s new approach to insurance. The new products people will see from Safeco will take full advantage of advanced technology to help consumers better navigate life’s risks.”
Research shows that motor vehicle accidents are the leading cause of death for teens in the
“Teensurance offers parents peace of mind and lets them know they are doing all they can to keep their teen drivers safe,” said Jim Havens, vice president of customer solutions at Safeco. “Because teen drivers and their parents jointly set limits for driving times, speeds and locations, Teensurance helps young drivers demonstrate responsibility, improve their driving skills and earn their parents’ trust.”
Safeco will offer subscribers access to Teensurance’s online services and roadside assistance for a limited-time introductory price of $14.99 a month. This price is guaranteed for two years for Safeco customers and includes free installation of the Safety Beacon into the teen’s car.
Only parents and their teens can access the driving information gathered through the Safety Beacon. Individual driver information is not available to Safeco and will not be used to calculate individual rates.
This is the first in a series of new products and services Safeco’s innovative research and development lab,
More information about Teensurance is available at www.teensurance.com.
About Safeco
Safeco, in business since 1923, is a Fortune 500 property and casualty insurance company based in
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[1] National Vital Statistics Report, Centers for Disease Control, 2005 (using 2002 data).