Cobra telematics technology already powers three driver based
insurance packages. These are:
- Pay How You Drive - the better your driving the lower your
premiums
- Pay As You Drive - based on the time, distance and location of
journeys covered by the driver
- Pay Per Use - premiums are based on a driver's mileage
Pay how you drive insurance will automatically deliver lower
premiums for those drivers who drive sensibly and pay as you drive
means drivers only pay for the journeys they undertake. It will
also incentivise drivers to use their car away from the morning,
late afternoon and holiday driving peaks, which will not only
reduce premiums but reduce congestion at peak times.
Cobra already provides a telematics solution for the Coverbox pay as you drive
insurance policy, which the Co-Operative is using to power its
Young Driver Insurance.