Telematics insurance

Actuary Forums Forums Learnings Daily Dose Telematics insurance

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  • #25081
    Vanshika Gupta
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      what is Telematics insurance? 

      #25082
      Vanshika Gupta
      Participant

        Telematics car insurance is when your insurance provider monitors your driving habits and adjusts your car insurance premiums based on how you drive. They’ll monitor your driving through a black box installed in your car, a plug-and-drive device or a mobile phone app.
        Your provider will be able to track things like your driving speed, how you brake and how you handle corners. The more responsibly you drive, the lower your premiums are likely to be in the future. You’ll also be able to see your own driver score, either on the insurer’s website or smartphone app.

        Telematics insurance policies offer certain benefits you won’t get with other types of cover, such as:

        Improved driving skill
        Telematics insurance can help anyone get better at driving – young or old – by providing feedback on where you can improve while taking corners or braking

        Reassurance for parents
        If your child is learning to drive or has recently passed their test, telematics is a good way to find cheaper insurance, and shows you whether they’re driving sensibly

        Help for convicted drivers
        Older drivers with a history of convictions can also take advantage of telematics, as it can lower the cost of cover made more expensive by past infraction

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      Actuary Forums Forums Learnings Daily Dose Telematics insurance