MyDrive Solutions has launched MyDrive Dynamic, which is an insurance smart box technology to enable car insurers to accurately assess the risk presented by individual drivers, and price premiums accordingly.
The MyDrive Dynamic solution uses an insurance smart box in the car to capture driver behavioural data including driver’s level of aggression, smoothness, anticipation and consistency.
The data thus gathered will enable the insurer to assess driving ability and behaviour through an online portal display.
MyDrive Solutions CEO Linden Holliday explains that the insurance smart box knows where the driver is, when they are driving and how they are driving.
"This information is transmitted back to the insurer’s data systems via the Cloud so they can measure each driver’s capability and price their insurance premium accordingly," Holliday added.
"With our distinctive one second data logging technology, combined with GPS data, we can contextualise every decision each driver makes by mapping it to the road network."
MyDrive Dynamic provides robust insurance risk assessment capability that allow individuals to be rewarded with lower premiums for safe driving.
The new insurance smart box technology will operate using data transmitted through Telenor Connexion, a telecommunications service provider to MyDrive Solutions.