The introduction of telematic technologies will help improve overall road safety, new data from U.K.-based The Co-operative Insurance shows.
Launched earlier this year, the company’s usage-based insurance offering, Smartbox, is aimed at drivers between 17 and 25. After a smartbox is installed in a vehicle, it collects driving data and measures driving behaviors in four ways: speed, braking and accelerating, cornering, and night time driving. The Co-operative scores these data points from one (poor) to five (excellent) and rewards discounts on insurance premiums to those drivers who score consistently well.
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