Walker joined RAC Telematics at the start of the year and is now focusing on the potential to offer a much more comprehensive set of data, looking at how both the driver and their vehicle behave, providing live updates. This will enable insurers to base policies on dynamic, real-time driver information, rather than relying on retrospective driver history.

Walker said: “Nobody else in the market is able to offer what we are now talking about, simply because they don’t have the range of data that the RAC has access to.”

Walker added that UBI has strong potential to move away from being a product sold purely to young drivers, to something adopted by the mass market with the support of telematics, and become a more profitable model.

He commented: “If you understand how the vehicle is behaving as well, the stress on the brakes, the average speeds, the health of its components and parts, this will tell you much more about how the policy holder is driving the car. We can provide that vehicle health data to match up with driver behaviour.

“The third element, which makes this an extremely powerful tool, is true First Notification of Loss, or FNOL. With the software we now have and the analysis of the data, we are able to tell exactly what has happened in the case of an accident, including speed, direction and location.

“But even more, at slow speeds, we can determine whether the vehicle has been involved in an accident, or if it has hit a speed bump or kerb, with an accuracy rate of 92%. As a result, disputes over liability for accidents at slow speeds could be a thing of the past.

“The RAC is the only provider with access to this combination of data, and it will transform the potential for UBI to go to the mass market.”