PAY AS YOU DRIVE CAR INSURANCE CLOSER TO HAPPENING
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| Article date: 05/10/2005 : 16:28:53 |
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Norwich Union and Trafficmaster have agreed a five-year deal that will see specialist "black-box" in-car units on the road, which will enable pay as you drive (PAYD) insurance to be used.
Trafficmaster will initially provide Norwich Union with 10,000 black-box in-car units in the first half of 2006 and the technology is able to identify where a vehicle is so that Norwich Union can come up with the insurance figures.
Trafficmaster, the supplier of in-vehicle services and digital traffic information, will make available to Norwich Union some of its in-vehicle services, which the insurer will offer as extras to customers.
They include safety camera warnings, Smartnav navigation, emergency and breakdown calls and stolen vehicle tracking.
Tony Eales, chief executive of Trafficmaster, said: "This is a major new market for Trafficmaster as it not only provides large scale deployment of our in-vehicle units but also provides an opportunity to sell our other compelling services.
"The deal provides a new way to deliver Smartnav and it will allow us to offer insurance products to many of our own subscribers."
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