United Kingdom: Wunelli, the telematics enabler for the insurance sector has created an innovative new smartphone app for Drivology, a completely new insurance brand underwritten by Axa. Drivology, which launched today (17th March), is designed for lower risk drivers of 25 years plus. Representing a number of firsts in the telematics arena, the Drivology app is the first app to be used for collecting data for full policy administration; the first to allow photographic evidence of key documents such as driver’s licence and no claims bonus information to be uploaded; and one of the first apps to offer AutoStart on policy administration.
Along with creating an app that’s designed to appeal to the mass market of smartphone users, Wunelli will be providing Drivology with the data collection, validation and scoring capabilities to enable the broker to rate the policyholder based on their driving behaviour and adjust the insurance premium accordingly on a quarterly basis. Up to now, apps have primarily been used to enable drivers to ‘try before they buy’, seeing how their driving behaviour would impact their premium on a telematics policy.
The customer simply downloads the Drivology app to their smartphone and is provided with feedback on their driving behaviour which can be used to create a premium adjustment personal to them. Regular, up-to-date advance estimates of premium changes are provided so there are no surprises and customers have the chance to adjust their driving. Safer driving could result in a lower premium.
Penny Searles, Managing Director of Wunelli, comments, “Recent research shows that although only 4% of drivers currently have telematics fitted to their vehicles, almost 20% would consider telematics at their next renewal*. Through the ongoing development of our app solutions, we are helping new entrants to the telematics arena like Drivology focus on specific groups of motorists with the offer of cover to reflect the risk they actually represent.
Launched in 2014, Drivology is an innovative car insurance provider that looks to reduce the cost of motoring through technology and data. Using a telematics smartphone app, Drivology offers lower risk drivers lower insurance premiums.
How Drivology works
Based on telematics technology, the Drivology app ushers in a new era in motor insurance for drivers over 25 who want to save money by monitoring their driving behaviour. Once downloaded, it uses GPS to record how, when and where a vehicle is being driven. This data is then used to calculate quarterly variations in drivers’ insurance premiums.