Telematics motor insurance is on the up

摘要

The concept of telematics-based car insurance is fast gaining ground with a steady stream of new products and technologies coming onto the market. Major insurer Aviva, for example, recently announced a trial of its RateMyDrive smartphone app, which is available free, with a target sign-up of 5,000 drivers. The system, in marked contrast to previous black box-type products, with their continuous recording, will monitor participants over a limited, 320km-long spell of driving. It collects the necessary data on their speed, and acceleration, braking and cornering manoeuvres, and convert the results into an individual score for deciding on their personal premium level.