TomTom today announced its first customer in the telematics insurance market. United Kingdom-based insurance broker Motaquote will use TomTom technology for Fair Pay Insurance, a product that rewards good drivers with lower premiums.
“Our entry in the insurance market with our proven fleet management technology puts us at the forefront of a move that could help to revolutionise the motor insurance industry,” said Thomas Schmidt, Managing Director TomTom Business Solutions.
TomTom PRO 3100 & LINK
Drivers who sign up for Fair Pay will benefit from a specially-developed TomTom PRO 3100 Personal Navigation Device, which includes Active Driver Feedback and LIVE Services. This means policy-holders can be alerted to driving events, such as harsh cornering and sharp breaking, and benefit from HD Traffic, local search and speed camera alerts.
Drivers will also have a TomTom LINK tracking unit fitted in their vehicles, allowing driver behaviour and habits to be monitored. This information can then be viewed by the policy-holder in their driver dashboard, an online tool that details journey and driver behaviour data, and in regular email bulletins.
The cost of the TomTom device and fitting is priced at Â£299.00.