As a young driver, you know how frustrating an experience it can be finding affordable insurance for your car. You’ve followed all the advice, chosen a cheap car, with a small engine, that stands about as much chance of winning the traffic light grand prix as Ed Miliband being our next Prime Minster.
And yet every insurance quote you receive seems to have the decimal point in the wrong place. Price comparison websites resemble a game of Monopoly, where each click of the mouse lands a player in even greater debt and nobody seems to care about your good driving record or your discipline behind the wheel.
That’s where the fresh-thinking car insurance brand Ingenie comes in. You see, Ingenie treats every driver as an individual so young drivers pay for their insurance based on how they drive, not on the collective risk of young drivers – which is how traditional car insurance works.
Premiums are reviewed every three months with better drivers rewarded through discounts to help lower the cost of their car insurance premiums.
The company focuses on drivers aged 17 to 25, and uses advanced telematics to assess individual driving styles and compare against an ever evolving knowledgebase. Ingenie’s goal is that of mentoring and developing its customer base, leading to better drivers who are both less risky to insure AND more attuned to the principles of smooth and efficient car control.
Rather like the skills involved in driving an F1 car.
And that’s where AT&T Williams get involved. In an official announcement released this morning, the highly-respected F1 team have formed an official partnership with insurance provider Ingenie.
To underline just how committed both companies are to incentivising better driving, the team are offering special visits to the AT&T Williams factory as a reward for the best and most improved drivers. Whilst there, customers will be able to view the team’s Grand Prix Collection and try out the simulator to feel what driving a Formula One car is really like.
Adam Parr, Williams F1 Chairman, commented, “The Ingenie proposition immediately stood out because we liked the idea of sharing technology, similar to that used in our own Formula One cars, to help young drivers improve their skills and be rewarded with cheaper car insurance. We also have an interest in road safety, not least because our Founder and Team Principal, Sir Frank Williams broke his neck in a road accident.”
I should disclose that I have a personal interest in this new venture and have been keen to support the founders in launching the Ingenie brand, addressing a long-overdue gap in the market. The proposition has been developed to recognise the individual driver, make learning and development fun and reward participation.
Feedback is available via Twitter-style messages on Ingenie’s innovative mobile app and their website will provide insights to encourage young drivers to improve their skill and precision and become better, safer drivers.
The similarity with Formula One’s telemetry-based philosophy is palpable and I believe it will provide a real incentive for young drivers to take pride in their driving and earn recognition for doing so.
Richard King, CEO and founder of Ingenie, said this morning, “We are delighted to be involved with one of the most respected names in motorsport. Ingenie is all about rewarding young people for better driving and there could be no better partner than AT&T Williams, given Formula One’s determination and use of technology to reduce serious injuries and fatalities on the track.”
And do you know what the best news is? No Meerkats were exploited in the making of their new ads.
You can check out Ingenie for yourself by visiting their website.