UK underwriter RSA has launched underwriting solution to ingenie, to meet the increasing demand for their young driver telematics insurance cover.
ingenie is a car insurance brand for drivers aged 17 to 25, said that the collaboration with RSA will enable it to build its telematics capability.
ingenie has deployed advanced telematics technology in order to create a picture of a driver’s driving style and reward those who drive well with cheaper insurance premiums.
The best performer is measured on well driving habits, get discount on insurance premium of the cost of their car insurance, said the firm.
Talking on the new partnership, RSA personal lines managing director Mark Christersaid it is important to the firm and ingenie that young drivers can afford insurance and are safe on the roads.
"Their track record of a strong management team, the extensive research that went into developing the technology and their refreshing approach to engaging with young drivers and parents made them an obvious choice to team up with," Christersaid said.
ingenie founder and CEO Richard King said, "This new partnership will clearly help to extend our reach and ‘quotability’ and satisfy the rapidly increasing demand for telematics insurance in the UK."
Ingenie said that its in-car device is equipped with a high frequency motion sensor which captures driving data at ten times per second, thus providing a very clear picture of a young driver’s attitude to the road.
RSA, a 300 years old underwriter operates its businesses in more than 140 countries across the globe including the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe.