Covéa Insurance and Vitality have partnered to launch a new product that rewards motorists for good driving while giving them a way to lower their auto insurance costs.
The new direct-to-consumer car insurance proposition, VitalityCar, enables drivers to measure and improve their driving behaviour after each trip while earning rewards.
VitalityCar is built around a so-called “Good Driving Programme,” which gauges how safe a motorist drives based on the five behaviours that contribute to half of all road accidents: harsh acceleration, harsh braking, harsh cornering, distracted driving and speeding. Good driving will unlock weekly rewards, which include products from Caffé Nero and movie rentals from Rakuten, while drivers that manage to demonstrate the safest driving behaviours will be given the opportunity to reduce their excess by £250 and receive a no-increase guarantee at renewal.
In addition to the rewards for good driving, VitalityCar will also offset up to 100% of the carbon emissions from each trip, depending on how well the motorist drives.
“Vitality was founded on the simple belief that people can be incentivised to change their behaviour and by rewarding them for doing so, it creates a virtuous circle of improvement,” said VitalityCar managing director Andrew Webb. “We are now applying our Shared Value insurance model to car insurance with a dynamic product that consistently encourages and reinforces good driving, rewarding members for driving safely and for making choices that are better for the environment.”
“Our partnership with Vitality is a major milestone for our business strategy and technology roadmap. It is also a really exciting development for the wider insurance market,” added Covéa Insurance managing of personal lines and protection James Gearey.
