Leading independent insurance broker, ProtectaGroup is monitoring young drivers using the VL-Fleet GPS tracking system from VeriLocation. Since its introduction, many customers have taken out ProtectaGroup's Young Driver product which enables them to reduce their annual premium by not driving between 11pm and 5am. Their vehicles are fitted with a VL-Fleet tracking device which sends an automatic notification if the vehicle is used within the 'red hours'. VeriLocation provides the hardware and software solutions as well as call centre support to run the scheme.
Ian Brown, Group Technical Director at ProtectaGroup explains: "The lower premium reflects the reduced risk of accidents if the young drivers do not drive at night. The tracking system is working very well and the vast majority of drivers adhere to the restrictions. For those who don't, we receive a report from VeriLocation the next working day giving details of when and where the vehicle was driven. This enables us to contact the driver regarding the breach of the conditions and inform them that the pre-agreed additional premium is payable."
"I'm very happy both with the service provided by VeriLocation and the VL-Fleet tracking system," continues Ian. "I tested it in my own car before we launched the policy and was very impressed. VL-Fleet is a valuable and under-used tool. The online information is extremely useful and the reports can save a lot of time. For example, I can prepare my mileage analysis by clicking a few buttons instead of going through my diary and notes and compiling a spreadsheet."
Ian concludes: "I think the use of this technology will change insurance in the future, especially for young drivers, providing a closer link between the premium and driver behaviour. Insurance is all about risk and if you can reduce the risk you should be able to enjoy the benefits."