Major UK insurance company 4075 Aviva is said to be experimenting with an iPhone app that will offer discounts on car insurance based on customer's driving speed and style, according to reports in the 4076 Daily Telegraph newspaper.
The app will use telematics technology to monitor a driver's behaviour by using data transmitted from a Smartbox, which is fitted to the policyholder's car, via satellite. It will measure motorists' mileage, the time they drive, and how they drive.
Motorists are then penalised for sudden braking or cornering via a black box installed in the dashboard of the car. The concept behind this insurance is simple: by encouraging careful driving, some motorists will see their premiums fall, while those who do not drive as safely will see the cost increase.
Head of Aviva UK, Trevor Matthews, is quoted as telling City AM, "We're experimenting with an app right now that you put in your car and tells you all sorts of things. It could be available later in the year. But clearly there's a bit of a problem with a phone-based app because it might not be in your car."
The app will use telematics technology to monitor a driver's behaviour by using data transmitted from a Smartbox, which is fitted to the policyholder's car, via satellite. It will measure motorists' mileage, the time they drive, and how they drive.
Motorists are then penalised for sudden braking or cornering via a black box installed in the dashboard of the car. The concept behind this insurance is simple: by encouraging careful driving, some motorists will see their premiums fall, while those who do not drive as safely will see the cost increase.
Head of Aviva UK, Trevor Matthews, is quoted as telling City AM, "We're experimenting with an app right now that you put in your car and tells you all sorts of things. It could be available later in the year. But clearly there's a bit of a problem with a phone-based app because it might not be in your car."
