Mike Ketteringham, CEO of BIBA member ingenie, said: “Telematics insurance makes a huge difference to the safety of a young driver, particularly when coupled with effective feedback and education. The soaring number of black box policies is great news and shows we’ve reached a tipping point where young drivers and their families appreciate that telematics is a better option financially, and are willing to work alongside us to reduce crashes.”
These types of policies can offer savings of up to 25% for careful drivers. Data provided by the ‘black-box’ technology builds a personalised risk profile based on an individual’s actual driving. Ongoing monitoring of driving behaviours encourages better, safer road use. Research from insurance provider ingenie shows that telematics-based feedback can halve a driver’s risk of crashing over their first policy year.
In addition, BIBA member Marmalade, specialists in telematics insurance for young drivers, has seen exceptionally strong safety results. Studies show that 1 in 5 young drivers have an accident within the first 6 months of passing their test, yet with Marmalade that figure significantly improves to only 1 in 16, making their young drivers three times safer2.
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