DriveStyle Insure, the only telematics insurer to be invited to exhibit at the 2013 ABI Biennial Conference in London on July 9, will be demonstrating to the insurance industry just what "telematics 2.0" can do - and highlight the potential for insurers currently operating without a telematics offering.
The DriveStyle Insure team will provide an up-to-the-second brief on what is available to prospective partners as pre-packaged or bespoke pay-how-you-drive insurance.
Fresh from the launch of DriveStyle.co.uk along with partner Allianz, and the re-launch of Coverbox.co.uk, management and staff will be on hand to demonstrate the functionality of a product which has been two years in the making, fine-tuning and launch.
"We have created a product supported by robust technology and well-thought-through pricing and charging which contribute to a genuinely game-changing insurance product. We are delighted to be working with the ABI and to be invited to exhibit to demonstrate the advancement that has been made in telematics insurance," said Johan van der Merwe of DriveStyle Insure Limited.
Coverbox DriveStyle was developed and launched with partner Allianz and is now the only UK car insurance product NOT to charge the entire cost of insurance up-front - and is also telling customers to purchase the minimum amount of insurance cover they require.
Once a policy is taken out for its new product and payment system, and after drivers have bought their initial minimum cover, they are then able to buy bundles of insurance miles of cover as and when they need them instead of buying insurance for the year in advance.
One of the technology features of the new product allows policy holders to influence the price of insurance miles bundles by rewarding good driving with cheaper insurance payments.
"In the majority of homes around the country you don't pay for any other household consumables up front - gas, electricity, phone - you pay when you use them. That's the way car insurance should be - after all, how do you know you'll need insurance this time next year?" said Johan van der Merwe.
"The consumer car insurance market tide is turning, and insurance needs to turn with it - telematics 2.0 is the answer."
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