At the launch of the UK prime minister-led campaign 'We're in this Together,' which is aimed at encouraging individual action on climate change, More Th>n, the direct arm of general insurer Royal & SunAlliance, announced two new green insurance products.
The new products include a telematics car insurance policy that uses GPS technology to help people drive in a greener way and save money on fuel, and an eco car discount of up to 15% and free carbon offsetting for the first 3,000 miles.
Furthermore, the company also announced that a financial incentive will be offered in the near future to home insurance customers who have taken measures to reduce their energy usage.
Bridget McIntyre, UK chief executive of Royal & SunAlliance (R&SA), said: We’re absolutely committed to the We’re in this Together campaign. By offering consumers positive environmental choices, large companies can make a tangible difference in the fight against climate change. I believe it’s the right thing to do. Our customers want us to take action, and our people want to work for a company that’s taking its environmental responsibilities seriously.
Drivers purchasing the telematics eco insurance will receive a GPS telematics device for their cars, which will monitor how green their driving behavior is and send them regular reports on how well they are doing and tips to help them drive more efficiently. This will include measuring behaviors such as the number of short journeys taken, excessive speed, over-revving, over-acceleration, and idle time leaving the motor running.
More Th>n believes that the introduction of its eco policies, along with the actions of the other ‘We’re In This Together’ partners, will offer consumers a variety of simple ways that they can reduce their own carbon footprints.
R&SA, including More Th>n, has a long-term environmental strategy and, last year, was the first insurer in the UK to become carbon neutral.