insurethebox data illustrates that proactive communication with regular speeders reduces the risk of road accidents
Road safety advocate, insurethebox, has released new data that illustrates the powerful effect of proactive communication with motorists who demonstrate high risk behaviours. Over the past 3 years, the UK pioneer of telematics has seen some 80,000 drivers reduce their speed by 21%, resulting in 6% reduction in accident frequency[i]. As a result, it estimates some 700 accidents have been prevented and 22 serious injuries avoided in this time[ii].
“We know that speed is the single biggest influence on accident risk, but despite this, drivers are continuing to speed”, said Simon Rewell, Road Safety Manager at insurethebox. “The latest government speed compliance statistics[iii] show that, in 2018, under free-flowing traffic conditions, 46% of cars exceeded the speed limit on motorways, 52% on 30mph roads and 10% on 60mph roads. And we believe young, inexperienced drivers are particularly vulnerable to the risks.”
insurethebox has used its unique insights to identify how, where and when speed has a critical influence on the frequency and severity of accidents. Using nearly 5bn miles of driving data, and associated claims[iv], insurethebox can uniquely identify which individual customers have the highest probability of having an accident based on their current driving behaviour.
Through tailored communications in its award-winning campaign[v], insurethebox proactively contacts these customers, identifying specifically where and when they are speeding and highlighting the risks they pose to themselves and other motorists and road users. A range of messages are used to help drivers understand the risks they face. The company is also sharing educational video clips through a partnership with the Road Skills Academy. The short video clips highlight the dangerous and damaging impact speeding can have on other road users.
In the last two years, insurethebox has issued over 350,000 separate communications to 80,000 individuals.
“Encouragingly, 70% of customers say our programme has made them drive more safely,” continued Simon Rewell. “Our initiative demonstrates in the most tangible way possible the huge beneficial social impact proactive risk management has, not just for inexperienced drivers but the population at large, averting or reducing the impact of life changing events. We also believe the results demonstrate that if all insurers communicated with policy holders in a similar way to us, 1,000 serious injuries could be avoided and 80 lives saved each year in the UK alone.”
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, empowering them to better manage their driving habits in order to reduce their risk profile – and therefore 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.
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Notes to Editors
insurethebox
Insure The Box Limited launched in June 2010 with its first product, insurethebox, and now holds over 4.5 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.
[i] Analysis of 97,000 customers in the communication programme over three years in comparison to customers outside the programme.
[ii] Prevented accidents calculated based on the decreased accident frequency of the 97,000 customers in the programme.
[iii] Department of Transport: Vehicle speed compliance statistics for Great Britain: 2018, https://www.gov.uk/government/statistics/vehicle-speed-compliance-statistics-for-great-britain-2018
[iv] insurethebox data comprises:
- Telematics data:
- GPS Location data at 5-second intervals
- Instantaneous speed
- G-force in each of the 3 planes of motion (forward, horizontally and vertically)
- High g-force events (‘alerts’)
- Road data:
- Road class
- Speed limit
- Average road speed
- Driver data:
- Full suite of demographics as captured on motor insurance proposal form, most importantly including age, gender, licence years
- Vehicle data:
- Full details of the vehicle including make, model, engine size and year of manufacture
- Claims data:
- Damage incurred (to first party and third party vehicles)
- Injury claims incurred
[v] A winner in the FirstCar Young Driver Road Safety Awards 2019; Private Sector Initiative.