insurethebox continues to display effectiveness of targeted communications in an effort to stop speeding
Road safety advocate, insurethebox has released the latest data for their award-winning1 communications campaign aiming to identify critical speeding instances and help young drivers stay safe.
Analysing over 5 billion miles of driving data and associated claims accumulated over the previous decade allows the insurer to identify customers who present the highest risk based on their driving behaviour. The communications model responsible for the reduction in speeding and estimated accidents aims to combat dangerous driving behaviour through a multitude of tailored, educational messages triggered by customers’ speeding instances.
The insurer’s latest statistics reveal that over the past four years, the Speed Reduction Programme has seen some 80,000 drivers reduce their speed by 21%, resulting in a 7% reduction in accident frequency2. The telematics provider estimates that 1060 accidents have been prevented and 34 serious injuries avoided3 in this time.
Communications like these are now more important than ever, as the telematics pioneer recently announced their observation of speeding propensity rising considerably since the UK lockdown was imposed – correlating with nationwide findings of upsurges in offences related to speeding.
The propensity to speed amongst their customers more than doubled between March and April (104%) this year4. The year-on-year figures yielded similar findings with 78% rise in speeding (April 2019 compared to April 2020)4.
The communications have shifted to highlight the impact upon emergency services to reflect this upsurge, however, the insurer continues to conform to the award-winning messaging model to educate young drivers on the dangers of speeding, any time of the year.
Gary Stewart, Service Manager at insurethebox: ‘We keep a strong focus on protecting our customers throughout the duration of their policy. We pride ourselves on making a positive influence on the road, and it’s truly encouraging to see campaigns like this work. Each accident we stop and every injury avoided is a win for everyone, and I hope we keep seeing the positive outcomes for years to come’.
‘The differentiator for us is the manner in which we look inwards, and use telematics data for a bigger purpose – to identify driving trends and predict future behaviours of customers in order to help them stay safe.’
Through a black box installed in the vehicle, insurethebox uses individual driver data to determine the risk profile of each policyholder and calculate their premiums. insurethebox shares driving data with customers through a personalised online portal and tailored communications, empowering them to better manage their driving habits in order to reduce their risk profile – and possibly their premiums. insurethebox policies offer an initial 6,000, 8,000 or 10,000 miles of cover and Bonus Miles can be earned for good driving behaviour.
1Private Initiative award at the FirstCar Young Driver Road Safety Awards 2019: https://www.insurethebox.com/insurethebox-wins-2019-firstcar-young-driver-road-safety-award/
2Analysis of 120,000 customers in the communication programme since 2016.
3Prevented accidents calculated based on the decreased accident frequency of 80,000 customers who have been in the programme for at least 6 months
4Analysis of Insure The Box Limited policyholders’ driving data between 31st April 2018-1st May 2020.
Media enquiries to:
Pihla Hellgren // Nathan Manley
Email:press@insurethebox.com
Notes to Editors
Insure The Box Limited launched in June 2010 with its first product, insurethebox, and now holds over 5 billion miles of driving data and associated claims. As well as insurethebox and drive like a girl (another Insure The Box brand) it also administers other telematics offerings. Insurethebox is owned by Aioi Nissay Dowa Europe Limited, part of the major Japanese insurance group MS&AD Holdings, Inc. The group is taking a leading role in the development of technologies that will change the face of motor insurance and the way we view the car.