Young Driver
Trafficmaster in black-box deal
Thu, 06 Oct 2005
Technology firm Trafficmaster has signed a deal with insurance company Norwich Union to provide new equipment for motorists.
A five-year deal will see Trafficmaster supplying an initial 10,000 black-boxes for use in the insurance provider's Pay-As-You-Drive (PAYD) scheme.
PAYD allows drivers to pay for insurance based on the number of miles they cover and on what time of day they are driving.
Black boxes are introduced into the vehicles of those using the policy, allowing Norwich Union to track the movements of customer's individual car journeys.
The company has modified the black box software for the Smartnav black boxes it already provides for satellite navigation and traffic monitoring purposes.
Norwich Union was keen to stress that the scheme was still in its early stages, but said that they planned to expand the PAYD scheme which helps to lower insurance costs particularly for young drivers.
As part of the black box scheme, customers will also be able to benefit from products that help to provide cost effective insurance such as safety camera warnings, Smartnav navigation, breakdown calls and stolen vehicle tracking.
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