Welcome!

News Feed Item

UK Car Insurer ingenie Says EU Ruling is a Step Towards Individually Assessed Insurance Premiums

LONDON, December 18, 2012 /PRNewswire/ --

According to ingenie, a black box car insurance brand for 17-25 year olds, the EU gender ruling is set to highlight the benefits of insuring young people based on how they drive. The change in the law comes into force from 21st December 2012.

     (Photo: http://photos.prnewswire.com/prnh/20121218/582939 )

Many of the major players in the UK car insurance industry have reacted strongly against the ruling which will mean that insurers can no longer take gender into account when calculating the price of car insurance. The British Insurance Brokers Association (BIBA) estimates that as a result of the ruling, premiums for young women will rise by up to 25%.

However, Richard King, founder and CEO of ingenie said: "ingenie sees the ruling as a step closer to a future where all young drivers are treated as individuals, with premiums based on how well they personally drive. As a specialist brand for young drivers, we know that teenage drivers in particular are often offered expensive quotes - but this isn't always fair. Our experience is that many of our customers actually drive really well. With BIBA estimating that black box insurance can be up to 25% cheaper than traditional insurance, we hope that young female drivers in particular see black box insurance as a fairer alternative - with their premium based on their individual driving style."

ingenie fits the box out of sight in the car to assess how it is being driven. Uniquely, driver feedback is available via Twitter-style messages on the ingenie mobile app as well as online.

Key areas of driving are assessed including speed, acceleration, braking and cornering. The driver's policy is then reviewed every 3 months and the best drivers could receive a discount of up to 10 per cent on their insurance in the first year, meaning that if they drive well, they pay less for their insurance.

Mark Cliff, Managing Director at Ageas Insurance Ltd, one of ingenie's underwriters, said: "The EU ban on gender pricing will impact customers in different ways, but some of those most impacted will be young female drivers who can expect to see a spike in their insurance premiums.  ingenie's black box technology is an innovative way of linking premiums to behaviour as it rewards young people for driving safely.  For those renewing their motor insurance after the 21st December, it's an option worth considering to help keep costs down."

Richard King added: "Our view is that this EU ruling is only the first step towards car insurance premiums individually tailored for the young driver. Black box technology will transform the way insurers assess young driver insurance premiums, so that in time, the cost of insurance will depend on how well each individual drives - not on a group of drivers you've never met."

ingenie's infographic highlights the impact of the EU gender ruling on young drivers: http://www.ingenie.com/blog/2012/11/eu-gender-ruling-infographic

About ingenie

ingenie provides car insurance for 17-25 year olds and brings together a community of better drivers. A black box is fitted out-of-sight in the car to assess individual driving styles. Regular driving feedback is available via ingenie's mobile app or online. Driving trends and patterns are assessed rather than isolated incidents - policies are reviewed every three months with discounts applied to the best drivers in the community.

ingenie is backed and supported by footballer turned broadcaster Gary Lineker and Williams F1 who have assisted in the development of ingenie's telematics technology as well as supporting our road safety initiatives.

Press contacts:
Will Powell [email protected]
+44(0)207-287-9610


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.