Company News from yesinsurance
16 January 2007 Insurer to perform first major test of safety camera warning system
The UK’s first full-scale test of the benefits of an in-car safety camera and accident blackspot warning system is being launched on 1st February by insurance provider yesinsurance.co.uk.
Statistics will be compiled as the project progresses, comparing the accident records of motorists who have a Road Angel warning system in their car with a base group of motorists who do not.
If the research indicates that Road Angel users are safer drivers and better insurance risks, yesinsurance.co.uk hopes to be able to offer them lower premiums in the future.
To help build up a valid base for the test, drivers who take out motor insurance with yesinsurance.co.uk will be offered £75 off any Road Angel product. This means that the basic Road Angel Compact unit, which is usually £150, will be provided at half price.
All Road Angel models provide four specific safety benefits to drivers:
- Fixed safety camera warnings
- Accident blackspot warnings
- Primary school warnings
- An accurate speedometer (many car speedometers are not 100% accurate) giving drivers a greater awareness of their speed.
A number of models which will be available under the scheme also include a satellite navigation system.
Research involving a 1 million mile fleet test has so far indicated that business drivers using Road Angel have 50% fewer accidents and are around 70% less likely to receive endorsements on their licence.
“Because of its scale, the project which we are now embarking on will be a much more definitive test of the effectiveness of the system,” said Paul Purdy, of yesinsurance.co.uk.
It is believed that drivers who use a Road Angel system are made more aware of their surroundings, particularly in areas where accidents are more likely, and are therefore less likely to have an accident.
For drivers there is the additional benefit that they are less likely to receive fines or points on their licence.
Whilst the system has received support from the police, some of whom use the system themselves, it has not yet been tested from an insurance perspective.
“This is the first time an insurer has put such a system to the test and the procedures we are putting in place with our sister company, Provident Insurance, will be able to give a specific measurement of the overall effect that use of the Road Angel product has on driving and accidents,” said Paul Purdy.
“The warning system is designed to increase driver awareness, particularly where accident blackspots, schools and areas where drivers are tempted to speed are concerned.
“Anecdotal evidence also suggests that, in addition to encouraging drivers to slow down, the system has a long-term effect on driver psychology, making motorists more aware of dangers on the road and helping to alter their driving style accordingly. Our research project will also be investigating this area,” he said.
Road Angel, the market-leader in warning systems, saw sales rise from £2.5m in 2003 to £17.1m in 2005. The company is now placed in 11th position in The Sunday Times Tech Track 100 league table of the top 100 fastest-growing technology companies in the UK.
yesinsurance.co.uk was launched last year by Provident Financial plc, which also owns Provident Insurance plc, a UK insurance company which has been providing competitive car insurance for 40 years and has approximately 500,000 customers.
