TomTom, a Dutch GPS provider, has entered into teaming agreement with UK-based insurance broker Motaquote to launch Fair Play Insurance, which bases premiums on driving behaviour.
Drivers who sign up for Fair Pay will benefit from a specially-developed TomTom PRO 3100 navigation device, which includes active driver feedback and live services, which means policy-holders can be alerted to driving events, such as harsh cornering and sharp braking.
Drivers will also have a LINK tracking unit fitted in their vehicles, allowing driver behaviour and habits to be monitored and will also benefit from accurate traffic information updated every two minutes.
The information can then be viewed by the policy-holders in their driver dashboard, an online tool that details journey and driver behaviour data, and in regular email bulletins.
The data will be then monitored by Motaquote periodically throughout the life cycle of the policy to monitor driving behaviours, speed and mileage.
The company said: "In preparation for your renewal, we will analyse your data to see if there are any factors, which can influence a renewal premium from our insurers."