Monday, 9 July 2012

Why Is Black Box Insurance Technology The Future?

Here at iKube we believe that the future for car insurance lies with black box technology - especially for 17 - 25 year old young drivers.

Black box insurance has been described by politicians, insurance and technology experts as being the solution that could level the playing field.

Essentially it's about making premiums fairer - if you drive well then you are rewarded with discounted insurance. If you drive badly then you are penalised accordingly.

By rating motorists based on their driving behaviour we believe black box insurance is making cover better for all.

Black box car insurance is not only about rating drivers more fairly. It's also about making driving more fuel economical by alerting the motorist to issues with their driving (i.e. harsh acceleration, speeding and braking patterns) which has a direct impact on their fuel usage.

We also see road safety as equally important - which is why we're partnered with the road safety charity, Brake.

With the numbers of people injured or killed as a result of careless driving we see black box technology as a solution to reducing road accidents.

Since a black box telematics device can report on all manner of driving issues that can affect the insurance premium it makes sense that motorists on a telematics insurance policy will want to keep their premiums as low as possible.

By driving safely and carefully a black box insurance policy, at renewal, could be discounted significantly. Not only does the premium drop but so could the number of accidents... thanks to technology that actively promotes better driving.