insurethebox Wins FirstCar Safety Award

insurethebox opinion on the revised discount rate for insurance claims payouts

The ground-breaking speed reduction communications programme from insurethebox, the global pioneer of telematics-based car insurance, has won the 2019 FirstCar Young Driver Road Safety Awards. Recognising the UK’s best road safety schemes, a panel of judges comprising nine road safety specialists selected the shortlisted companies. insurethebox was announced the winner of the Private Sector Initiative of the Year at the Young Driver Focus conference.

Launched in 2015, the FirstCar Young Driver Awards scheme, sponsored by Road Safety Support, rewards best practice in road safety. The awards recognise road safety schemes that demonstrate clear and measurable aims and objectives in the battle to reduce road casualties among young drivers.

insurethebox won the Private Sector Initiative of the Year award because of its focus on encouraging safer driver behaviour through its proactive communications programme. The telematics insurer proactively contacts policyholders who speed, identifying specifically where and when they are speeding and highlighting the risks they pose to themselves and other road users. By increasing awareness of the dangers, insurethebox empowers young drivers to modify their behaviour.

This communications programme has resulted in a 28% reduction in speeding instances among the highest risk drivers. For young drivers, accident frequency has reduced by 9 percent.

Simon Rewell, Road Safety Manager, insurethebox said: “Improving road safety, particularly among young drivers, is an integral part of the insurethebox proposition. The Speed Reduction Programme is an extension of our core service, empowering young people by giving them the information they need to take control of their driving behaviour.

“Our analysis shows that young drivers who speed between midnight and 7am are three times more likely to have an accident than customers who only speed during the day. Through the personalised insurethebox portal for each policyholder, and our proactive programme of communication, we give customers feedback on their driving to raise awareness of the ‘danger zones’.

“We have clear evidence that this approach delivers genuine road safety benefits and we’re delighted that this has been recognised with our win at the FirstCar Young Driver Safety Awards.”

insurethebox uses individual driver data to determine the risk profile of each policyholder through a telematics device installed in the vehicle. It shares driving data with each customer through a personalised online portal, empowering them to manage their driving habits in order to reduce their insurance risk profile – and therefore their premiums. insurethebox policies offer an initial 6,000, 8,000 or 10,000 miles of cover and Bonus Miles can be earned for good driving behaviour.

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