GreenRoad and Admiral Partner to Launch ‘First Pay How You Drive’ Insurance Scheme
GreenRoad and Admiral Partner to Launch ‘First Pay How You Drive’ Insurance SchemeStaffordshire Rolls Out Programme with GreenRoad and Admiral; has Reduced Young Driver Risk by 58%
London, UK – February 10, 2009 – GreenRoad today announced that it is working with insurance specialist Admiral to encourage young drivers to drive safely with the first ‘pay how you drive’ scheme in the industry. GreenRoad and Admiral are offering select UK councils an incentive programme that rewards young drivers who drive safely with reduced insurance premiums and the ability to earn cash vouchers when they drive in a safe manner.
The first council to take advantage of this scheme is Staffordshire County Council, which is going live with its Young Driver Coaching Programme and installing GreenRoad’s Safety Center in up to 500 cars in the county.
Admiral is offering a 25% discount to all the young drivers participating in Staffordshire’s scheme. Each month, safe drivers – those who stay green or are low risk – will also receive up to 10 percent of the annual non-discounted insurance premium as vouchers to spend. This could be worth up to a maximum of £156 per driver.
Forty young drivers and their families from across Staffordshire volunteered to install GreenRoad Safety Center in their cars as part of a trial starting in April 2008. Both young drivers and their families improved their driving dramatically during the six-month trial, with many transforming their attitude and becoming model drivers.
Overall the young drivers in the pilot scheme reduced the number of high-risk driving manoeuvres by an average of 58%. The number of high-risk manoeuvres while driving at night — often the most dangerous time for young drivers — declined by 71%. Those drivers who started the pilot in the highest risk group reduced the number of risky manoeuvres by 65%. GreenRoad and Staffordshire have been awarded the prestigious Prince Michael International Road Safety Award in recognition of the pilot programme’s outstanding contribution to improving road safety. Through safer driving, GreenRoad clients also reduce fuel consumption by an average of up to 10 percent, cutting costs and CO2 emissions.
William Williams, product development manager at Admiral said, “New drivers pay a fortune for car insurance and that’s because they are so much more likely to kill or maim while driving. We are hoping that Admiral’s 25% premium discount will encourage more new drivers to sign up for this brilliant initiative. It’s a way to cut the carnage on the roads while also cutting the cost of car insurance.”
“Admiral is the first insurer to directly reward people for how they drive,” said Eric Shishko, senior vice president, insurance and consumer at GreenRoad. “As insurance companies look to attract and retain new customers and good drivers in a competitive marketplace, Admiral is setting a new standard with this innovative way to reduce crashes and insurance claims.”
GreenRoad also works with a variety of insurance carriers and brokers, such as Marsh and Belmont Internation, to provide innovative solutions to commercial fleets.
About GreenRoad Safety Center
Safety Center uses innovative technology to help improve driving skills and reduce fuel consumption. A personalised professional coach, Safety Center empowers drivers to manage their own safety and improve their driving techniques.
Safety Center provides an automated solution for families, road safety professionals, fleet managers and insurers. Its in-vehicle sensors collect information on approximately 120 different driving manoeuvres. Each manoeuvre is evaluated in five categories: acceleration; braking, lane changing, cornering and speed handling. Using proprietary algorithms, manoeuvres are analysed to give drivers continuous in-vehicle feedback about areas that require improvement, and build their driver profile. Driver safety and economy levels are displayed using a colour classification system: green light indicates safe driving, yellow needs attention and red is high risk. Feedback is also provided using SMS, email, and Safety Center’s password-protected website.
GreenRoad develops driver safety technologies that stop risky driving before an accident occurs, and dramatically reduce crash rates. Its solutions are designed to empower drivers to manage their own safety by giving instantaneous, in-vehicle driver feedback-without invading privacy. GreenRoad provides immediate savings, the result is fewer accidents, lower accident costs, and reduced fuel consumption and CO2 emissions. UK customers include Stagecoach, T-Mobile, PHS Datashred, Staffordshire County Council, Balfour Beatty Utility Solutions and the Ministry of Defence. GreenRoad is backed by Benchmark Capital, Virgin Green Fund, Amadeus Capital Partners and Balderton Capital.
Admiral, (a trading name of EUI Ltd) launched in 1993, and is part of Admiral Group plc. It was set up to target those motorists who traditionally pay higher than average premiums, including those under-35, living in cities or driving hot hatches.
Admiral writes its motor insurance business to a consortium of insurers, these being:
* Admiral Insurance Company Ltd * Admiral Insurance (Gibraltar) Limited * Great Lakes Reinsurance (UK) plc Admiral’s salesline is 0800 600 800 – open from 8am to 10pm on weekdays, from 9 am to 5pm on Saturdays, and on a Sunday between 10am and 4pm Admiral’s web site address is www.admiral.com. The Admiral Group employs over 2,500 people, has over 1.5 million customers
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Dr. Ursula Ron
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