UK: According to a recent news, SSP has forged a collaboration with Wunelli to create the first telematics-based private motor insurance policy available to over 1,000 high street brokers.
As in news, the product, named SoteriaDrive after the goddess of safety and deliverance, will be available to SSP brokers to offer their clients from the third quarter of this year. As such, SoteriaDrive will be the first mass market telematics-based insurance policy using smartphones for consumers.
As per the source, brokers will be able to obtain a quotation via their existing SSP system from a panel of SoteriaDrive insurers. Each insurer will set their own terms and conditions for the policy as usual. Once the policy is accepted, the broker will provide a link for the client to download the SoteriaDrive app to their smartphone. This will record their driving behaviour and allow feedback on driving performance and any adjustment to the premium. It will also help validate claims, thereby streamlining the claims process.