The insurance policy market is now witnessing slow but steady growth of telematics-based car insurance products. With the help of telematics, one can monitor when the cars are used, how far they’re driven and how well they’re driven.
On the basis of these inputs, car insurers can provide some drivers lower insurance premiums.
The car insurance comparison site Tiger.co.uk has now introduced iGO4’s Wise Driving, a new telematics brand to its car insurance panel. This addition makes Tiger.co.uk the only car comparison site in U.K. that offers car insurance quotes from eight telematics brands.
Tiger.co.uk is an independent car insurance comparison site that offers insurance quotes from over 140 motor insurance brands.
Telematics monitor is a small box of about the same size as a mobile phone. The device is fitted to a vehicle which then monitors a driver’s actual driving performance. The way the car is driven, the readings on the monitoring device then help the insurers price their motor insurance policies.
iGO4’s Wise Driving rewards good driving, evaluating solely on the basis of a driver’s interaction with the car and his/her behavior. The time the car is driven, day or night, is not of any consideration.
Exclusively on the basis of driving quality, iGO4 decides the premium and rewards good driving with reduced rates throughout the year.
Andrew Goulborn, commercial director from Tiger.co.uk, commented that they were very pleased to be introducing another telematics partner to their panel. “The addition of iGO4’s Wise Driving will make us the only car insurance comparison site to feature eight telematics insurers (alongside insurethebox, i-kube, Coverbox, Autosaint, Bell safe driver scheme, Hastings Direct SmartMiles and Carrot), providing quotes to car insurance shoppers,” he said. “We are seeing very high [uptake] of policies based on this technology, particularly when it comes to finding cheap car insurance for young drivers – a group that has been hard hit by insurance inflation over recent years.”
Edited by Braden Becker