Cobra welcomes ABI’s call for an overhaul in young drivers’ learning and development
In a recent press release, Cobra UK, leader in the provision of security, safety and telematics solutions for the automotive and insurance industries, has welcomed the Association of British Insurers’ (ABI) call for an overhaul in how young people learn to drive. This follows a recent report from ABI into how to reduce the high crash risk young drivers represent and to bring down their motor insurance premiums. Cobra is warning that more must be done to ensure safety and manage insurers’ risk and feels that changes to young driver training should be just the start of a complete change in way they are monitored and insured to increase their safety and reduce their insurance premiums. Cobra believes that telematics can successfully manage insurance companies’ risk and are already being used successfully by a small number of insurers.
“Telematics technology gives young drivers the chance to prove they are safe drivers by recording how they drive, measuring key outputs from a car's journey in real time such as times and distances, fuel consumption, mileage, cornering, braking, average speed, top speed, the car's location, and journey type,” says Andrew Smith, Managing Director, Cobra UK.
The report showed that while only one in eight driver licence holders are aged 25 or under, one in three fatalities on UK’s roads involve a young driver. The ABI’s proposals are also calling for time restrictions to be placed on a young person’s driving habits for the first six months after they have passed their test, banning them from driving between 11pm and 4am. Telematics is already able to offer the technology to impose this type of restriction as it monitors all aspects of driver behaviour and can readily support this in real-time, meaning any changes in the law will be easier to monitor and bring peace of mind to insurers.
Cobra telematics technology powers three driver based insurance packages. These are:
Pay how you drive insurance will automatically deliver lower premiums for those drivers who drive responsibly and pay as you drive means drivers only pay for the journeys they undertake.
With the IAM recently posting its findings that young motorists are being priced out of driving, this may offer some support in the way of lower insurance costs, however, the restrictions on driving hours could dampen the idea for young drivers. We will have to wait and see if the ABI proposal gets put into action. Six month's can seem like a lifetime to a younger person, but I feel it will allow them to gain more experience before driving that late at night. What do you think?
“Telematics technology gives young drivers the chance to prove they are safe drivers by recording how they drive, measuring key outputs from a car's journey in real time such as times and distances, fuel consumption, mileage, cornering, braking, average speed, top speed, the car's location, and journey type,” says Andrew Smith, Managing Director, Cobra UK.
The report showed that while only one in eight driver licence holders are aged 25 or under, one in three fatalities on UK’s roads involve a young driver. The ABI’s proposals are also calling for time restrictions to be placed on a young person’s driving habits for the first six months after they have passed their test, banning them from driving between 11pm and 4am. Telematics is already able to offer the technology to impose this type of restriction as it monitors all aspects of driver behaviour and can readily support this in real-time, meaning any changes in the law will be easier to monitor and bring peace of mind to insurers.
Cobra telematics technology powers three driver based insurance packages. These are:
- Pay How You Drive - the better your driving the lower your premiums
- Pay As You Drive - based on the time, distance and location of journeys covered by the driver
- Pay Per Use - premiums are based on a driver's mileage
Pay how you drive insurance will automatically deliver lower premiums for those drivers who drive responsibly and pay as you drive means drivers only pay for the journeys they undertake.
With the IAM recently posting its findings that young motorists are being priced out of driving, this may offer some support in the way of lower insurance costs, however, the restrictions on driving hours could dampen the idea for young drivers. We will have to wait and see if the ABI proposal gets put into action. Six month's can seem like a lifetime to a younger person, but I feel it will allow them to gain more experience before driving that late at night. What do you think?
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