Friday, 20 July 2012

iKube Parent Makes It To Insurance Times Award Final

iKube's parent company, Motaquote have reached the final of the Insurance Times Technology in Insurance Awards 2012.

The company have been shortlisted, along with two other firms, in the "Best use of Analytics" category. This is thanks, in no small part, to iKube Insurance.

iKube is a black box insurance policy that tracks the time of day the young driver is on the road. By agreeing to stay off the road between 11pm - 5am the policyholder is rewarded with a discounted premium.

The black box or "telematics" device that monitors the driving reports this information to the firm, along with other aspects about the way the car is driven.

Other aspects, such as acceleration and braking patterns as well as speed, types of roads and how the young driver manages corners are also recorded.

This information can then be used to make an informed decision on the renewal premium - potentially discounting the cover further if the data reports that the young driver insurance holder has driven sensibly and well.

To find out more about how iKube works check out the following: