This pioneer project uses M2M Industrial Router (M2M) technology to allow customers to pay for their car insurance policy based on how they drive

Four-Faith has joined forces with one of Europe’s largest insurers, The Generali Group, to pilot a new form of car insurance in Spain. This pioneer project uses M2M Industrial Router (M2M) technology to allow customers to pay for their car insurance policy based on how they drive. It will not only help customers drive more responsibly, but also potentially save them money on their car insurance.

Four-Faith’s telematics service, which is installed in the car, will tell the driver how many kilometres they drive a year, whether they mainly drive during the day time or evening, in urban areas or the countryside, whether they keep to speed limits and whether they accelerate or brake sharply.

All of this information can easily be accessed by the insured party through a mobile application or website, letting them know which driving habits they can improve.

The insurer, Generali, is provided access to a final ‘score’ which they can use to adjust the insurance premium. They do not have access to any other detailed information.

The project is a joint collaboration between Generali and Four-Faith both through its Digital unit and Four-Faith Seguros, the Four-Faith Group’s insurance company. Following the pilot, a commercial service is planned to launch in Spain in the first quarter of 2013.

Four-Faith believes that M2M technology has the potential to revolutionise the car industry from innovative car insurance policies such as this to connected cars. In addition to this pilot, Four-Faith Digital’s UK Product Development team has also been trialling a service called Drive to Improve, which uses the same technology to let consumers monitor their driving habits via an app. Visit http://www.four-faith.com/En/Solutions/   for more information.