Insurer’s new cash incentive for boy racers to go slow

MAKE sure to check those rear-view mirrors – because Big Brother is watching you drive. A leading insurance company has unveiled a new device that will record customers’ driving habits and reward them if they’re careful.

Axa yesterday launched its DriveSafe programme, which is designed to improve road safety and cut motor insurance premiums. The initiative, aimed at drivers aged between 17 and 24, offers motorists a 20 per cent discount off their insurance policy if they choose to take part in the pilot scheme.

The programme will use a gadget,

‘Improve safety and

reduce costs’

which is installed under the dashboard of the vehicle and is about the size of an iPhone 4, to monitor and report back to the insurer on the motorist’s overall driving style, anticipation, speeds, distance, cornering and stopping force.

Paul Moloney, head of corporate affairs at Axa, said: ‘Primarily, this is a road safety initiative which, as a consequence, reduces the cost of insurance for young drivers. Realistically, the only way to reduce insurance premiums is to reduce the number of accidents and the consequent cost of claims.

‘It’s a proven fact that speed is a major factor in road accidents and if young drivers are prepared to show a commitment to careful driving within the speed limits, then Axa is prepared to offer those drivers lower premiums.’

Axa will review each participating driver’s road record every four months and if they get a score of 70 or over, the insurance firm will also refund the driver a further 3.33 per cent after every quarterly review. Drivers will also have access to their own individual password-protected portal online so they can monitor their scores online.

An Axa spokesman stressed that if a driver fails to pass the review, they will not be penalised – but will fail to qualify for a reduction.