Australian-First In-Car Technology Saving Drivers

Australian-first technology, which rewards safe drivers with the opportunity to pay lower car insurance premiums, is now available to Australian drivers.

Insurance Box is the first Australian insurance product to offer in-car telematics technology, made available through QBE. The small plug-in car device uses sensors to measure driving habits, with this information then used to calculate a DriveScore (or driver safety score), which influences the insurance premium.

Frank Peppard, Founder of Insurance Box, said traditionally, car insurance companies determine premiums based on age, sex and postcode.

“Insurance Box focuses on how you drive. If you’re a good driver, whether you’re 18 or 80, you should be rewarded for that. Why should you subsidise those who aren’t?” said Mr Peppard.

“We expect young drivers and their parents will be particularly interested in Insurance Box. These drivers stand to save significant dollars through this new ‘skills-tested’ approach to car insurance,” he said.

Data collected by Insurance Box can assist with a claim by providing an accurate account of what happened in a collision and the GPS functionality in the Insurance Box device can help to locate a stolen vehicle.

In addition, drivers receive insights and advice through an online portal and SMS to improve their driving habits and potentially save even more money.

Tim Plant, General Executive Manager of QBE Australia, said as an insurer, the more data QBE can obtain, the more accurate it can be in assessing the risks.

“Through Insurance Box we not only have the ability to encourage our customers to become safer drivers, but to reward safe driving behavior through lower premiums,” said Mr Plant.

“We are excited to be playing a leading role in bringing this Australian-first capability to the market and offering our customers a product that delivers both potential cost and safety benefits and also encourages safer driving practices, which benefit all on the road,” he said.

Paul Stacy, Founder of Wunelli, providers of the leading telematics technology, said it was about time Australian drivers had access to the technology.

“Telematics has become the norm in the UK, particularly for young and new drivers, who are unfairly judged and charged a higher premium based purely on their age or lack of experience. It is particularly popular with parents of young drivers, who are often the ones picking up the tab. In the UK, we’ve seen reductions in the severity and frequency of claims by up to 30%. We’ve also recovered up to 95% of stolen vehicles,” he said.

At a glance, Insurance Box has all the features you’d expect in a comprehensive policy plus:

  • A small satnav type device sent in the mail that easily plugs in to your car
  • A password-protected web Dashboard that provides feedback on your driving skills as well as advice and insights to help you improve
  • Competitive premiums available to all new customers with the opportunity for continuous savings