That's the view of telematics provider Cobra, which has welcomed the Transport Committee's report on the cost of motor insurance, in particular the idea that the driver rather than the car should be insured.

The firm says the technology to reduce casualty rates of young drivers, another key recommendation of the Transport Committee report, is already available and could be rolled out by the insurance industry within months.

MD Andrew Smith said: 'The entire motor insurance industry needs a complete reform, which will ultimately pass through to the corporate sector. Year after year the same problems are being discussed such as the growing number of personal injury claims and the rising young driver casualties, all of which cause corporate premiums to rise.'

The firm says that telematics technology is already in place and can reduce corporate driver accidents, at the same time as improving standards of driving. This includes Cobra's own systems, which are used for pay how you drive, pay as you drive and pay per use insurance. 

It also highlights the benefits for fleets: 'Pay how you drive insurance should automatically deliver lower fleet premiums to reward those company drivers who drive sensibly and pay as you drive means fleets only pay for the journeys their drivers undertake which could be relevant for lower-mileage users,' said Smith.

The technology could also be used to reduce the casualty rate of young drivers by assessing how a car is driven.

'Pay how you drive insurance is a way of tempering a young driver's behaviour at the wheel that doesn't restrict their mobility. Our telematics technology is tried, tested and ready for insurance companies to adopt and it could have an immediate impact on reducing the number of accidents among younger corporate drivers,' Smith added.