QBE has extended its telematics car insurance product to include a smartphone app to add to its plug-in ‘insurance box’, launched last October.
This Australian first means that customers have the convenience of car insurance provided via a box they plug-in under their car’s dashboard or can download a smartphone app. Each produces a unique ‘DriveScore’ that directly influences their insurance premium: the better their ‘DriveScore’, the more they save.
Existing customers, who have proven their good driving, will be the first offered the new app or may retain their current box version at renewal. New customers wanting to take advantage of the latest technology for their car can buy an ‘Insurance Box’ product now, with the app available to them later this year.
Frank Peppard, head of customer experience, says the new wave of telematics technology and connected cars was delivering new services that are already popular in the US, UK and Europe. Australian drivers are now becoming more aware of the new servic’s benefits for safer driving.
“Young drivers and their parents have been our early adopters, and the app will broaden the appeal of telematics as drivers look for a better car insurance deal with genuine feedback, personalised services and rewards” he says.
“While most people experience continually higher car insurance costs at renewal, our statistics show ‘Insurance Box’ customers have saved up to 30% at renewal by simply proving they’re a better driver. On average our customers save 6% at renewal,” he adds.
“We’ve been working on the iphone and android App for two years to recognise individual driving styles and help reduce collisions due to driver distraction, such as texting whilst driving,” Peppard notes.
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