The Co-op chases young drivers with telematics offering
Capita Insurance Distribution has announced a four-year contract with The Co-operative Insurance to administer a telematics based motor insurance product for 17-24 year olds.
According to Capita's insurance intermediary business, premiums will be based on traditional factors and actual risk posed by an individual's driving through information delivered by a ‘smart box' installed in the car.
Wunelli will provide the ‘smart box' and telematics data that enable a driver's speed, acceleration, braking and the time of day that they drive to be recorded and used to calculate increases or decreases in premium.
Mark Townsend, managing director of Capita Insurance
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