New tech to track road use
The first ever Smartphone based tracking or telematic system has been developed by insurance technology specialist SSP and telematics experts Wunelli. The device is supposed to open up the telematics market to smaller insurance brokers.
Jonathan Davey, SSP Pure Broking and Keychoice managing director said: "Historically telematics has been the domain of very large brokers and insurers who have had the money to invest in these types of initiatives. The smaller high street brokers haven't had the buying power, investment capability or technology understanding and that has kept them out of this space. This is an inclusive proposition."
The advantage of making use of a Smartphone rather than a black box is clear. The app which is called SoteriaDrive can be installed to any Iphone or Android and once on there it can start tracking. A black box has to be fitted manually to the car and the costs are much higher. The product has received praise from the Head of corporate affairs at BIBA, Graeme Trudgill, he said, "This is a significant breakthrough for brokers, giving them access to a product that specifically addresses their needs and the needs of their clients as well as an opportunity to engage with policyholders on an on-going basis."
The decision to launch the product was based on extensive research and Davey intends to meet the demands of brokers who expressed an early interest in the product.
Quotes taken from Insurance Times
17.05.13 - James Davey