It is perhaps just a little less than surprising that a major insurance company has found, in a survey, that a majority of young drivers would be happy to have a telematics box, which monitors their driving, installed in the car. Indeed, AIG insurance, which has carried out the survey, also points out that it offers a 20 per cent discount on insurance to those who fit such a device.
Real-time reports on your driving
The telematics box, sometimes referred to as a 'spy-in-the-cab' both geolocates the car and monitors its speed, steering, and braking. This ensures that speed limits are being adhered to and that the car is being driven in a safe manner. AIG's 'BoxClever' tech reports all of that in real-time back to the insurer.
According to AIG, some 60 per cent of drivers aged 18-24 would be happy to install a telematics system in their car to reduce insurance premiums. Again, perhaps we need to remember at this point that the company providing that data also provides, and profits from, the sales of such devices.
Parking is the hardest skill
Elsewhere in the AIG survey, around a quarter of drivers in that 18-24 years group say that "their driving doesn't need any work." 47 per cent say that parking is the skill they most need to improve. The research also reveals that as drivers gain more confidence and experience on the road, some of these basic skills become less daunting. Only 18 per cent of 25-34-year olds say they need to work on their parking and another 9 per cent referenced roundabouts as an area for improvement.
As far as parents go, some 68 per cent said that they reckon their child is a safe driver, but equally 64 per cent admit that they would be more comfortable if their child's driving was being monitored by telematics (again, AIG sells telematics systems...). 37 per cent said they would like their child to improve their speed monitoring and maintaining abilities.
Price is a hugely important factor when it comes to choosing car insurance, and 77 per cent said that it was the main factor. That rises to 83 per cent in the 25-34 age group. However, more than half said that they don't shop around for renewal quotes, although again that's something that improves with age and experience.
Sophisticated telematics technology
Commenting on the research findings, Aidan Connaughton, General Manager at AIG Ireland said: "Our research shows that young drivers want to get the best rates out there and would be happy to have their driving monitored to help their premium. At AIG, we want to support young drivers and promote road safety which is why our BoxClever product has been developed primarily with young drivers in mind. By using the most sophisticated telematics technology on the market, we can help reduce premiums for young drivers by rewarding good driving behaviour, which results in safer Irish roads for everybody. The box installation process is effortless, and we are currently offering a 20 per cent discount to new online customers over the next three months."