BMW partners Allianz to launch its first telematics insurance product

BMW has launched its first ever telematics insurance product with Allianz.

The BMW FlexiMile policy for its electronic cars, the i3 and i8, offers a 25% discount to customers who drive less than 5,000 miles per year.

BMW ConnectedDrive technology, built into the cars, means that the customer’s mileage is tracked and a monthly statement is produced and sent directly to the policyholder.

Additional miles are charged on a fixed pence-per-mile basis and drivers can switch onto BMW’s Unlimited miles product if they expect to cover more than 5,000 miles during the year.

Customers who buy a new BMW or a secondhand model from an approved dealer will be offered seven days’ free comprehensive car insurance and told about BMW’s policies, which are all underwritten by its global insurance provider Allianz.

The UK launch is the first time BMW has sold a factory-fitted telematics based insurance product anywhere in the world.

Allianz Global Automotive chief executive Karsten Crede said: “With the introduction of a custom-made product for the BMW i3 and i8, we are reaffirming our commitment to providing ongoing, systematic backing to our strategic partner BMW in key technological projects, too.”