BIBA highlights 40% rise in telematics policies
Figures released yesterday (14 March) by the British Insurance Brokers’ Association (BIBA) show that the number of telematics based insurance policies increased by 40% in 2015.
A survey of the UK’s 30 leading telematics brands showed that there are now almost 455,000 live policies in the UK, compared to 323,000 in December 2014.
The technology offers young drivers the prospect of a reduction in insurance costs in return for evidence of their safer driving. It usually uses hard-wired ‘black boxes’ in the vehicle to monitor a number of different factors such as time of journey, speed, cornering, acceleration, braking and familiarity of route.
Telematics has also been linked to improving the safety of young drivers. In 2014, ingenie’s Young Driver Report suggested that the use of telematics reduced a young driver’s risk of crashing from one in five to one in eight.
Graeme Trudgill, executive director at BIBA, said: “Telematics is becoming the motor insurance solution of choice among young drivers as they can take control of their own premiums by electing to have their driving behaviour monitored.
“Industry statistics show there is a 40% drop in crash risk when a new driver has a telematics policy. Telematics equipment also helps reduce theft claims, many doubling as vehicle tracker devices.
“We are delighted to see these figures increasing. The benefits of a greater take-up of telematics technology are many – more affordable premiums, safer roads, reduced uninsured driving and increase personal safely because some even operate as breakdown locator.”
New website includes members’ portal and info on training courses etc
Apply for Corporate Membership of Road Safety GB
Road Safety campaigns, research, data and help forum
NRSC 2017 | Manchester | 14-15.11.17
Click here to watch the presentations
YDF 2018 | RAC Club, London | 25.4.18
For more info and to register to attend click here...
Project EDWARD - 21 September 2017
For more info click here...
AROUND THE WEB
Could a hacker hijack your connected car?
BBC News looks at whether a rise in ‘over the air’ software updates means the risk of hacker hijack is also increasing.
The driving test trial
The findings of a DVSA trial, conducted with the Transport Research Laboratory (TRL), released to coincide with the new driving test changes.
THINK! ‘pink kittens’ mobile phone advert
Click here to subscribe for weekly news alert