The telematics car insurance pioneer, insurethebox celebrates its 10th anniversary of it’s first-ever policy sold. The company started trading in May 2010, and has since amassed over 5 Billion miles of driving data from their customers, making it one of the UK’s most experienced telematics car insurance providers.
insurethebox has experienced phenomenal success in the past decade providing cover to young and new drivers alike as the first UK insurer to create its own entirely in-house telematics platform. From a handful of staff at one office to hundreds across three locations; London, Newcastle and Gibraltar. Since its first 100,000 policies sold back in 2012, the past decade has seen the business grow from a small start-up to an experienced telematics insurer, now part of one of Asia’s largest insurers Aioi Nissay Dowa (MS&AD).
While insurethebox was amongst the few telematics providers when they launched, the landscape has noticeably altered, with the advent of start-ups and traditional insurance providers capturing their share of the telematics marketplace.
However, Warren Hetz, Commercial Director at Aioi Nissay Dowa, believes their proposition remains superior through ‘continuous innovation and a consumer-centric ethos which have fueled the acceleration of the business and set the standard for telematics insurance in the UK. insurethebox has helped mould the telematics industry in the UK marketplace since its inception – winning awards for safety initiatives, developing long-term strategic partnerships and introducing products which challenged the status quo.
Our experience and expertise with over 5 billion miles of driving data have helped guide us to shape our business model around our customers – to exceed expectations and positively influence their driving behaviour.
We aspire to make the UK roads a safer place by educating those demographics who represent a vast proportion of fatalities on the roads by harnessing technology and communications to positively change driving behaviour.’
This objective fronted by insurethebox is illustrated through their innovative speeding communications programme, launched in 2016, whereby the data has seen a 21% reduction in speeding offences and a further 7% decrease in accident frequency amongst some 120,000 customers contacted*. Supplementary to this, their partnerships with charitable organisations specialising in road safety (Learn2Live, PACTS, Road Safety GB and others) to both raise awareness and tackle key contributing factors to road traffic accidents.
The celebration of 10 years is no easy feat in the telematics insurance industry, a milestone which will spur the company on to grow even more.
*Analysis of 120,000 customers contacted in the communications programmme since 2016. “Speeding” is defined as speed limit + 30%, counted as speeding instances per mile where an instance is captured every 5 seconds.
ENDS
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.