PAYD news in UK market
To summarise a little bit the situation today, you can find here some Insurer actors investing in the PAYD business on UK Market: - In October 2006, Royal and Sun Alliance teamed up with broker Protectagroup to launch a new young driver policy branded I-kube. Following a successful pilot in Wales, the new ‘i-kube’ device is now being rolled out across the UK by Motaquote in partnership with RSA Insurance Group. In Nov 2009, I-Kube is offering a curfew-based telematics motor insurance solution. The basic model is that you (a young driver) are charged for driving after 11pm. This model is a nice simple model and easy to implement without big IT infrastructure behind. This is really closed to Solly Azar model offering. - insurethebox enters car insurance market : Per mile car cover for monitored new drivers to cut claims. A small ‘ClearBox' in the car monitors exactly when and where the car goes and how it is driven. The idea is that drivers with good driving behavior save money....