Aviva re-enters telematics insurance market
The firm's original proposition was predominantly aimed at getting data on young drivers and was dropped in 2008. Now following feedback from insurance brokers and customers, Aviva will focus on those fleets that have already installed telematics systems and will use the data to improve risk management strategies.
Mark Keavney, development manager – commercial product at Aviva, said: 'We gained a lot of experience in the sector the first time around and we have applied this knowledge to deliver insurance cover that's relevant and has value in today's market. Businesses have invested much more heavily in vehicle telematics in recent years and our approach enables customers who already have the technology installed to maximise the insurance benefits when buying cover for their fleet.
'We recognise that the cost of running fleets is increasing and so we are providing a cost-effective way to reward customers for making a commitment to risk management through using telematics to capture and analyse data on their drivers' behaviour behind the wheel.'
The Aviva telematics cover is only available on Aviva's Fleetwise and Fleetwise Self Drive Hire products and the firm stipulates that at least half of the vehicles must have telematics technology installed.
Aviva's team of 12 fleet risk advisors will work with customers to help them monitor their own data and make changes to their driving as appropriate.
The telematics units must meet a number of criteria, including maximum speed notification when a vehicle exceeds 70mph; the ability to record abnormal acceleration; braking, cornering, as well as the duration and distance of each journey; and the ability to identify both the vehicle and the driver.For more of the latest industry news, click here.