Insurance technology specialist SSP today announces that One Call Insurance (One Call) has launched a new telematics solution – Live Drive – after completing a successful pilot earlier this year.
Based on SoteriaDrive, an app-based telematics solution developed by SSP in conjunction with Wunelli, One Call is making the Live Drive solution available for telematics insurance customers to download on Android and iOS smartphone devices, complementing a black-box solution also from Wunelli.
SoteriaDrive is the first whole of market telematics-based insurance product to be available via high street brokers. Advanced functionality, such as an auto-start feature, makes SoteriaDrive an attractive proposition for brokers and customers alike. By detecting when the vehicle is moving and automatically activating the SoteriaDrive app, the onus on policyholders to remember to start the app every time they begin a journey is removed.
Overall demand for such telematics solutions is growing. A study by Deloitte earlier this year found that almost half of all motorists (48%) are now willing to track their behaviour and share the information with insurers in return for a more accurate premium1. Since its launch in 2013, SoteriaDrive has also been adopted by several other leading insurers to support their telematics offerings.
“Telematics-based policies have become a much more established feature of the insurance industry and not just amongst young drivers. Older drivers are also starting to recognise the benefits of their data being used in this way,” said Adrian Coupland, Managing Director, Data and Distribution at SSP. “Our own research last year found that there is a more general acceptance of telematics schemes across all age groups due to recognition of the financial rewards.
“With drivers frequently expecting to have the option of a telematics-based insurance solution and many automotive manufacturers starting to disrupt the market with their own built-in telematics, a tried and tested market-leading solution such as SoteriaDrive is a smart choice for insurers as it supports all ages and device types.”
Oliver Rose, Director at One Call, said: “Our pilot confirmed that regardless of age, many of our customers understand the benefits offered by telematics. This new offering gives us a great opportunity to extend our reach with flexible integrated app-based and device-installed services”.
1‘Insurance Disrupted – General insurance in a connected world’, Deloitte, 2015