Pricing and underwriting
Our new customer offerings, such as our telematics black box and smartphone apps, are helping us to improve our pricing models.
In June 2013, we moved from a test and learn phase to launching our telematics propositions on our own motor brands, Direct Line, Churchill and Privilege. This included our black box solution for young drivers aged 17 to 25, and our downloadable app available to all ages. We are now selling approximately 400 telematics policies a week and have sold 12,000 to date. This represents a growing proportion of our new motor business and we believe telematics has an increasingly important role to play in motor insurance, not just with young drivers but across the market.
See more on how we deliver value through our business model