USAA Expanding into UBI Services
June 14, 2021—USAA has plans to acquire insurtech company Noblr, the organization announced in a release.
The acquisition will allow USAA to offer usage-based insurance to its members.
"The acquisition of Noblr, Inc. increases our competitiveness in the marketplace and adds the choice of UBI capability for our members," Wayne Peacock, USAA president and CEO, says in the release. "Members will get personalized pricing that fits their risk and usage profile, better control over the cost of their auto policies and an exceptional end-to-end digital experience."
USAA plans to rollout UBI nationally over the next three years, starting with the eight states where Noblr is currently available then expanding to additional states. USAA expects the acquisition to close later this year.