First broker-specific telematics policy launched

Zenith has become the first insurer in the UK to launch a broker-specific telematics policy.

The mileage-based Brightbox policy is being piloted by Markerstudy Group’s retail brand The Insurance Factory and other brokers before a full roll-out before the end of the year.

The policies are targeted at low annual mileage drivers and young, inexperienced drivers with a low no-claims discount. It offers motorists the ability to buy cover based on the number of miles they anticipate driving and allows insurers to cancel policies if excessive or consistent speeding is recorded.

Telematics company Wunelli has been appointed to manage the installation of the devices in policyholder’s vehicles, collect and score driving behaviour data and mileage and provide feedback to the driver and broker via a customer dashboard and administration portal. 

Wunelli has also developed and delivered a claims portal that includes a journey viewer and incident alerts to assist claims handling.

Markerstudy group underwriting director Gary Humphreys said: “Wunelli has made our idea to give our brokers a robust telematics private motor policy a reality. The benefits of usage-based insurance to policyholders in terms of choice, safety and cost-effectiveness are numerous. While telematics policies currently represent a fraction of the total private car insurance market, there’s a huge potential for growth, and we’re keen to be a part of the action.”