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TomTom And Motaquote Seek To Drive Down Insurance Costs
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Darren
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PostPosted: Thu Feb 09, 2012 11:27 am    Post subject: TomTom And Motaquote Seek To Drive Down Insurance Costs Reply with quote

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TomTom and insurance company Motaquote have joined forces to offer a new driver insurance service, 'Fair Pay', that uses telematics to monitor driver behaviour.

Initially targeted at drivers who are faced with premiums in the £1000+ bracket, the service will reward good drivers with lower premiums.

Customers signing up to the service will receive a TomTom Pro 3100 satnav coupled with TomToms 'LINK' black box technology which is installed under the dash and connected to the vehicle. As an added benefit, the connected satnav also provides drivers with access to LIVEc services including HD Traffic.

Data captured by the LINK system is transmitted to the Pro 3100 via Bluetooth and can be viewed by the driver in real-time, allowing them to modify their driving behaviour accordingly.

Using vehicle telematics and satnav technology in this way is clearly a clever move for companies such as TomTom but for young and inexperienced drivers, faced with massive premiums, this may well be the answer.

More information at FairPayInsurance.co.uk.

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Slobbo
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PostPosted: Fri Feb 10, 2012 8:39 am    Post subject: Bad News Reply with quote

This is bad news because this will lead to people who don't want to monitored 24/7 to be penalised for not having these devices.
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PostPosted: Fri Feb 10, 2012 8:48 am    Post subject: Reply with quote

They already are, with £2000 p.a. premiums.

If it brings premiums down, allows young drivers to get on the road and rewards them for good driving conduct then I think it's a welcome option.

We've yet to see how much it brings down the premium though.
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topgearuk
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PostPosted: Fri Feb 10, 2012 9:10 am    Post subject: Reply with quote

I can't see this ever working, it is to easy to block a GPS signal. And phone signal for that matter. So when a youngster wants to break the law by driving fast and they will, they will temporally block the signal. No data recorded to prove one way or another.
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PostPosted: Fri Feb 10, 2012 9:13 am    Post subject: Reply with quote

Two things, firstly, the telematics box is hooked into the car's OBDII information network (all cars since 2001 have them) so that will only stop the GPS data. And secondly, if that happens often, then insurance company will likely penalise you.

Tracking has been around in vehicles for years, yes it can be blocked easily, you just remove the TomTom, but data such as acceleration, speed, cornering force, breaking force etc, all data already captured by your car computer system, sill still be available.
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PostPosted: Fri Feb 10, 2012 9:16 am    Post subject: Reply with quote

topgearuk wrote:
I can't see this ever working, it is to easy to block a GPS signal. And phone signal for that matter. So when a youngster wants to break the law by driving fast and they will, they will temporally block the signal. No data recorded to prove one way or another.


But they might face big problems if they have an accident while the signal is blocked!
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PostPosted: Fri Feb 10, 2012 9:43 am    Post subject: Reply with quote

Darren wrote:
Two things, firstly, the telematics box is hooked into the car's OBDII information network (all cars since 2001 have them) so that will only stop the GPS data. And secondly, if that happens often, then insurance company will likely penalise you.

Tracking has been around in vehicles for years, yes it can be blocked easily, you just remove the TomTom, but data such as acceleration, speed, cornering force, breaking force etc, all data already captured by your car computer system, sill still be available.


Yes all cars do have OBDII, but I thought most, well the cars the youngster will have don't actually record that data.

I didn't say it had to be often, and if they sell 1000's of these where will the man power come to sift though the 1000's of hours of data to prove this? You will just hear one off cases!

A company who fits trackers to there own vehicles can do this, because it's in there interest too. And it is a limited number in comparison.
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PostPosted: Fri Feb 10, 2012 9:44 am    Post subject: Reply with quote

Still, it won't be long before everyone is charged the same premium regardless of risk. The ageism laws will come into force, like the sexism laws already have, by equaling out premiums for men and women regardless of the fact that women are statistically much lower risk drivers.
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PostPosted: Fri Feb 10, 2012 9:44 am    Post subject: Reply with quote

IanS100 wrote:


But they might face big problems if they have an accident while the signal is blocked!


It can be as simple as just a flip of a switch
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PostPosted: Fri Feb 10, 2012 9:49 am    Post subject: Reply with quote

topgearuk wrote:
Yes all cars do have OBDII, but I thought most, well the cars the youngster will have don't actually record that datan

And they don't have to, the LINK box will capture the data and save it. Then, when the TomTom is plugged in and has a network connection, the data will be sent off.
Quote:
I didn't say it had to be often, and if they sell 1000's of these where will the man power come to sift though the 1000's of hours of data to prove this? You will just hear one off cases!

I'd imagine it was mostly automatic, with a flag when thresholds of speed, acceleration, deceleration or G were triggered. And if there is an accident then they have the ability to look at driver behaviour closely.
Quote:
A company who fits trackers to there own vehicles can do this, because it's in there interest too. And it is a limited number in comparison.

I don't get the argument, it's in the interest of anyone who has £1000+ premiums too surely?
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PostPosted: Fri Feb 10, 2012 10:02 am    Post subject: Reply with quote

Darren wrote:

And they don't have to, the LINK box will capture the data it want to store, and save it. Then, when the TomTom is plugged in and has a network connection, the data will be sent off.


I don't think this information is even captured by the OBDII on the cars youngster are likely to drive, so there will be nothing to record

Quote:
I'd imagine it was mostly automatic, with a flag when thresholds of speed, acceleration, deceleration or G were triggered. And if there is an accident then they have the ability to look at driver behaviour closely.


Yes I'm sure this is how it will work, but if it's being blocked then this won't register!

Quote:
I don't get the argument, it's in the interest of anyone who has £1000+ premiums too surely?


There's no argument here, it is just a discussion of views!

But as to this bit you miss what I was saying, nothing to do with premiums.

What I'm saying is it is the interest of company's who fit trackers to there vehicles to monitor the information, but who is going to monitor all this data from people with black boxes??

And don't you think this is only the start? I can tell you now I wouldn't want one fitted to my car and that's not because I break the law or not! Or would you like to see this expanded? Because it will only ever go one way!!
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PostPosted: Fri Feb 10, 2012 10:42 am    Post subject: Reply with quote

topgearuk wrote:
And don't you think this is only the start? I can tell you now I wouldn't want one fitted to my car and that's not because I break the law or not! Or would you like to see this expanded? Because it will only ever go one way!!

No one is being forced to have one! Younger drivers such as this lad: Telegraph & Argus link are being quoted £26,000 - yes, twenty six thousand - to insure a car.

Someone like this could massively reduce their policy price by asking for one of the black boxes - basically they would be saying "yes, everyone else around here is an idiot, but I know I'm not and am happy for you to monitor me to prove myself and, as a consequence, get much cheaper insurance".

If you only pay a few hundred pounds a year and have been driving for a few decades then there is no need for the financial saving by having one installed.

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PostPosted: Fri Feb 10, 2012 10:44 am    Post subject: Reply with quote

The BBC are now reporting that the AA are to launch a similar service, see here.
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PostPosted: Fri Feb 10, 2012 10:56 am    Post subject: Reply with quote

MaFt wrote:
topgearuk wrote:
And don't you think this is only the start? I can tell you now I wouldn't want one fitted to my car and that's not because I break the law or not! Or would you like to see this expanded? Because it will only ever go one way!!

No one is being forced to have one! Younger drivers such as this lad: Telegraph & Argus link are being quoted £26,000 - yes, twenty six thousand - to insure a car.

Someone like this could massively reduce their policy price by asking for one of the black boxes - basically they would be saying "yes, everyone else around here is an idiot, but I know I'm not and am happy for you to monitor me to prove myself and, as a consequence, get much cheaper insurance".

If you only pay a few hundred pounds a year and have been driving for a few decades then there is no need for the financial saving by having one installed.

MaFt


Yes I hear what you're saying and everybody has had silly quotes before, not on that scale, but what the insurance company is saying is we don't want you, but hey if you pay £26000 we will.. And yes I can see the premiums coming down for those that fit it, but only by a bit, I bet my house on it it is only going to be relativity small, Say a £1100 to £850 or enough to cover the cost of the box in the 1st place plus a slight bit on top!

My point is this, it is only the start and anyone would be naive to think otherwise!!
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PostPosted: Fri Feb 10, 2012 11:16 am    Post subject: Reply with quote

topgearuk wrote:
My point is this, it is only the start and anyone would be naive to think otherwise!!


Only the start of what? People getting cheaper insurance by offering to be monitored to PROVE they are safe drivers?

It's been happening for years! Insurance companies say 'if you can prove your not going to put in silly little claims for tiny amounts then we will reduce your premium' and people say 'OK, I will put my excess up to £500 to prove I will not make lots of silly claims' and their premium goes down.

It's not different really... Or do you know something we don't? You certainly seem to be implying it!

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