Now this is interesting!
You may be aware that Aviva have already undertaken trials into using telematics technology in the form of a black box as part of its risk assessment process in deciding the level of car insurance premium for a potential customer.
The fitting of a black box has usually been directed at young drivers who are normally faced with large premiums for their car insurance. The analysis of the motorist’s driving capability has often resulted in lower car insurance premiums and made them safer drivers.
Some of Aviva’s staff have already tested the smartphone but now Aviva wish to get 5,000 policyholders who own smartphones to volunteer to try out the system.
Policyholders with smartphones who are selected will download the Aviva RateMyDrive application. They will then have their driving monitored for 200 miles including their cornering, braking and acceleration and a score will be produced by their smartphone. This score will be used towards calculating the car insurance premium for each individual driver.
Those felt to be safe drivers could save as much as 20% in their car insurance premiums. Anyone currently paying less than £200 per annum would not receive a discount and those paying premiums of between £200 to £400 will have their discount capped at 10%.
Anyone whose driving does not meet the required standard will remain on the standard premium.
Aviva’s Retail Director, Steve Treloar stated: “We need a wide range of motorists to test the proposition and help us develop the final product and customer experience before we bring it fully to market.
“We believe that by using smartphone technology in this innovative way, Aviva will be able to tailor premiums further to individual drivers – basically the premium will be for you, not people like you.”