Pay as You Drive Car Insurance
You have arrived to Spain, car insurance pay as you drive, or payment of premium as soon as you use the car, which as I mentioned in another post, this type of auto insurance, which has long marketed in the UK, United States, and from what I have read today, even in Italy, Spain IBM, took a few years trying to implement, according to a couple of years ago, during the week INESE insurance.
On July 1, MAPFRE launches this car insurance pay as you drive, aimed especially for young drivers. Is supposed to be a pilot, aimed at 10,000 young people between 18 and 27 years, which will last three years. Something that makes it very clear that it is a pilot, is the fact that you can only take out insurance until 30 September. I do not know if this project has the support of IBM, or is its own technological development of the Owners’ Mutual Farms Spanish, or what we all know as MAPFRE.
In its product offer, indicates that this idea has been launched with the aim of being able to do a statistical analysis of accidents of young drivers, to publish, in what they called the White Paper is supposed to launch in late 2008.
We see, as once again, insurers take advantage of the studies, to promote themselves, and in this case, I imagine, for use in subsequent calculations of their car insurance premiums, especially for young people.
In fact, I already had a company MAPFRE to special risks, MARES, among which included car insurance for young people, but the truth is that I have much information about this company.
For its promotion, apart from promoting it on the web, in its section on insurance for individuals, has created a website, www.jovenesdesiguales.com for this new car insurance.
Is unlike anything any other I’ve ever seen to sell insurance. The first thing we find is a video, “supposedly” home, a young man, and then all the webdesign, the language used etc, is totally geared toward youth. This car insurance, can only be purchased through the web.
Emphasizes the promotion of this new car insurance for young, fully addressed to this sector, using marketing strategies fashionable today, such as viral marketing, making a home video contest, and thanks to youtube, it has popular, and have already done something similar, but with photos of tourist businesses.
He has also used the massive sending of SMS to promote the launch of the new auto insurance policy, sending sms and finally 200 000 and of course, used to promote traditional and online, through banners and I imagine that using adwords, and other pay per click tools
I do not think, so far, no other insurer has conducted an advertising campaign of its kind in Spain.
Focusing on the generic operation of this type of car insurance is obviously essential to the prior installation of a GPS locator, which in the case of normal sales, are around 250 euros, in this case, in this project, the installation cost MAPFRE is in charge, and therefore I imagine it will be cheaper, because it would take 25% of the budget for this project. I imagine that will also have special characteristics that prevent off, change etc.
For this pilot project has a budget of 10 million euros invested in both the installation of the navigation system, as in the promotion and elsewhere, according to MAPFRE, the discounts offered on car insurance premiums and I do not know if you will be including the technological development necessary to carry out this project. I do not know if it will partner with IBM or another company. In fact IBM has developed the technology platform Norwich Union
The navigation system implemented on the cars for free, send information to the insurer on the following:
Kilometers
Percentage of the type of roads used
The average length of trip
Schedule more frequent driving
Provinces traversed
Percentage of night driving
Average speeds
One of the data, both MAPFRE, as I read in the UK, make it very clear, is the protection of data, because the truth is that the information is being given is very private, in this way, you know types of roads are used by the car but not the specific name etc. In fact, on the Web indicates that AENOR, confirms the safety of the protection of such data.
Another distinguishing feature of this car insurance pay as you drive, is what eCalls private in case of breakdown, the pager itself, makes an automatic call, the service center.
Data provided by the system on driving the vehicle, may only be accessed by the policyholder’s car, I imagine that for young people not be afraid that their parents can learn, for hours until they were driving night and in areas that were partying.
Although the number one car insurance company in Spain, does not indicate how it will be the payment of the premium, if you speak of deep discounts on everything in the second year based on data from driving.
In the UK, conducting a monthly payment of a fixed amount each month, which I understand will be to cover the mandatory insurance of civil responsibility and a variable part based on car use, can determine the cost, depending road type, time (much more expensive in the evening hours for children) miles, speed etc. In the case of Norwich Union, according to his promotion, the first 100 miles are free.
Obviously, this insurance is very useful for people who use little car, or to use it at times when there is not much traffic, or through more secure.
In the case of using the car a lot, does not matter, because in the end would pay more than an annual premium for our car insurance. Another example, not interested in hiring this policy, in case you’ve been eyeing in the UK, is for people who drive a lot at night, meaning that if I have 20 years and I have a night job, I’m not interested hire this car insurance.
