There’s some interesting new research out from UK-based auto insurer, ingenie. Their Young Driver’s Report revealed that 40 percent of new driver crashes could be avoided with wider adoption of “blackbox” or usage based insurance.
While the infographic below fully illustrates the company’s findings, here are a few highlights:
One in five young drivers crash within their first six months on the road.
More than 90% of those using usage based insurance, engage with driving behavior feedback and check their feedback 14 times a month, on average.
Young drivers who share driving feedback with their parents or guardians are 28% less likely to crash than those who don’t.
Drivers with higher driving scores are less likely to have serious crashes than those with lower scores.
With ingenie’s usage based insurance program, one in eight drivers crash within their first six months on the road (compared to the usual one in five).
It makes sense that coaching teen drivers should improve their safety and ability to avoid accidents, and now ingenie has the numbers to prove it! In addition, we know that young drivers are digitally engaged, and therefore highly likely to embrace smartphone UBI.
American auto insurers – now is the time to take action. If you haven’t already done so, read this article on how to feed the usage based insurance elephant.