Drivology app introduces new car insurance model
Drivology, the innovative new car insurance provider, released its smartphone app in March 2014. The app can be downloaded via the company's website,www.drivology.co.uk, App Store and Google Play Store. As well as being available from the Drivology website and over the phone, the insurance policy is also exclusively available from Confused.com for the next two months.
Based on telematics technology, the Drivology app ushers in a new era in motor insurance for drivers over 25 who want to save money by monitoring their driving behaviour. Once downloaded, it uses GPS to record how, when and where a vehicle is being driven. This data is then used to calculate quarterly variations in drivers' insurance premiums.
The app also provides feedback to motorists, helping them improve their driving behaviour and reduce their insurance premiums.
Assessing factors such as speed, smoothness, consistency, road familiarity, road type and safe times, the Drivology app gives users a score from 1 to 100. Each driver starts with a score of 70, which can go down as well as up depending on driving behaviour. As drivers' scores increase, so too do the discounts they receive against their insurance costs.
The Drivology app offers the Autostart feature. Autostart detects when the car is on the move and activates the app to record driver behaviour. Uniquely, this removes the need for policyholders to manually start the app at the outset of every journey.
Another key feature of the app is the photo upload facility. Uploading images of driving licences, proof of no claims, car log books (V5), vehicles - including registration plates - and mileage readings helps to protect honest drivers from subsidising insurance fraudsters.
Before joining Drivology, potential policyholders can use the ‘try before you buy' feature to determine its potential benefits. Drivers receive a code based on the safety level of their driving. This in turn is used to calculate a fair insurance premium.
Telematics data gathered by the app will be used to adjust insurance policies every three months. Drivers will receive a statement to see how their premium may have changed, based on their driving. They'll also get estimates in advance of the statement so there are no hidden surprises. Customers are made aware of any changes to their premiums well in advance.
Drivology policyholders will not face cancellation or administration fees for changes to their policy details. Many insurers charge up to £50 to terminate a policy and £20 to amend policy details. The Drivology policy also includes Legal Protection as standard, which can cost up to £30 on other policies.
Based on millions of miles of monitored driving data, information collected by the Drivology app has been tested extensively to ensure scores give a true reflection of a driver's ability to drive safely.
Drivology is the brainchild of the company's founder and Managing Director, Nigel Lombard and Finance Director, Phil Llewellyn. Nigel is a computer science graduate who has held senior positions at Towergate, Cheltenham and Gloucester and Lloyds Banking Group. Phil, also formerly of Towergate, has held the positions of Finance Director and Company Secretary at a number of previous businesses. He is a Chartered Accountant, having trained and qualified with KPMG, and has a degree in Banking and Finance.
Nigel said: "We're convinced the Drivology smartphone app will change the way people choose their car insurance provider. The app will allow conscientious drivers to yield direct financial benefits through greater awareness of - and attention to - their driving behaviour."
The Drivology app was developed by telematics specialist, Wunelli, who has collected driving behaviour data over five years and invested heavily in data enhancement and app development capabilities to support the insurance sector. Other partners in the Drivology project include insurance technology specialists, SSP, and BDML Connect. Drivology policies are underwritten by AXA.
For more information on Drivology, visitwww.drivology.co.uk
Watch our launch videohere
Follow Drivology onTwitterand like onFacebook.
ENDS
For more information contact:
Emma De Maio
Call: 07921 160134
Email:emma@redheadpr.co.uk