Grant Mitchell, chief actuary, general insurance, The Co-operative Insurance, on using telematics data to ensure pricing accuracy.
With eight million members, The Co-operative Insurance is the United Kingdom’s largest cooperative focused on personal lines insurance.
In March 2011, it began offering Smartbox, a pay-how-you-drive (PHYD) insurance telematics option for young drivers, which rewards safer drivers with discounts on premiums.
Industry insight: Insurance telematics
Industry insight: Telematics and data
Insurance Telematics Europe 2014