This is an interesting move from Admiral and Ford. It might well the case that new data sharing laws across the EU will negate the need for formal partnerships. Truly open car data may remain a distant dream for insurers however. For now, this deal does marry up two big brands in a way which will help consumers feel they can trust the data sharing process.
So insurance giant Admiral, in partnership with Ford Smart Mobility and leading Telematics Service Provider, Redtail Telematics has launched an innovative new car insurance offering. Admiral Live enables customers that own Ford vehicles with a FordPass Connect Modem (manufactured from 2021 on) to share driving data, collected directly from their car. The advantage is that drivers don’t need to physically install a telematics box.
DATA DRIVEN INSURANCE
What is the advantage of data beyond the trad black box? The short answer is layering of data and key touchpoints. This partnership allows customer driving style information to be used to determine an accurate price, in a bespoke way, while giving Admiral the ability to manage premiums, rewards and claims.
Mark Gabriel, Admiral’s Motor Products Director said, “At Admiral, we’re always striving for better for our customers, using innovation to offer new products and solutions to improve our customer experience. Admiral Live is an exciting addition to our product range and we will continue to work with Ford and Redtail to develop the offering further.”
Dr Colin Smithers, Redtail’s founder and CEO added, “Redtail continues to innovate beyond our existing leadership in black box telematics with Admiral into the exciting new world of connected vehicle data. It is gratifying to see our expertise in turning sensors and signals into data of value for both Ford and Admiral.’’
For Admiral this is a crucial step away from offering TPF&T or Fully Comp as the default setting on thousands of modern Ford cars. For drivers, especially those who drive infrequently, plus use cruise to limit their speed, it should deliver savings too.
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