The Co-operative will begin to offer targeted online driving lessons for young drivers, based on their telematics data.
Customers who log onto their online 'Young Driver' dashboard will be targeted with training modules that correlate to feedback from their own driving data, collected by The Co-operative’s smart boxes.
The move to use telematics data not only to drive down costs but to actively change driver behaviour is an industry first and has been congratulated by national road safety charity Brake, which said: “Brake fully supports the use of telematics as an incredibly useful tool for measuring performance and helping to create safer drivers. The next step for telematics is training which creates behavioural change, and we are delighted to support the innovative system developed by The Co-operative and e-merge safer drivers.”
The firm claims 60,000 young drivers have installed black boxes as part of the insurer’s ‘pay-as-you-drive’ scheme since 2011, allowing them to improve their driving and reduce their insurance premiums.
The Co-operative Insurance telematics lead said: “With thousands of drivers already improving their driving and reducing their premiums by using our telematics technology. We believe that the modules will accelerate these benefits by providing additional tools to help our customers continuously improve their driving skills.”
Logistic firms and construction suppliers including Travis Perkins have reported a reduction in accidents after installing smart boxes into their fleets.
Many insurers are offering telematics technology however telecoms and car manufacturers are also hoping it will become a new revenue stream. BMW announced the first factory-fitted smart box to offer driver’s insurance premiums based on their usage and today Ford launched a pilot of its ‘Data Driven Driving’ arm in London.
The carmaker will allow drivers to check their usage, car health and fuel levels remotely through a smartphone app. Data pulled off smart boxes could be used to assist urban planning, Ford said.