The two companies have announced the start-up of an exclusive pilot programme for Spain in which machine-to-machine (M2M) technology will help users to drive responsibly and allow them to save on their car insurance according to their habits at the wheel.
This pioneer project will allow users to pay for their automobile policy depending on how they drive, make them aware of their responsibility and improve their habits at the wheel using a mobile application or also through access to the web from a computer.
This new insurance, which is currently in the pilot phase, uses Telefónica’s M2M technology and offers, for the first time, the possibility of customers paying according to their driving habits, which could mean very significant savings for the best drivers.
Generali will have access to the final “score” to adjust the insurance premium, whereas all the detailed information will be accessible only for the insured party.
Drivers will be able to find out the number of kilometres they drive a year, whether they are daytime or night-time hours, urban or interurban, whether they respect the speed limits or whether they accelerate or brake sharply.
All of this is accessible from a mobile application and a website, allowing the insured party to analyse which driving habits he/she can improve.
This agreement between Generali and Telefónica takes shape through Telefónica Digital and Telefónica Seguros. Generali provides all the know-how in automobile insurance and Telefónica Digital contributes on the technological side, with a telematic product which includes the device installed in the vehicles, a totally anonymous and safe cloud management service for the data, and the mobile application and website which end customers can use to manage their insurance and the way they drive.
Finally, Telefónica Seguros, the Telefónica Group’s insurance company, will act as co-insurer, allowing this project to be shared 50-50 between Generali and Telefónica.
The commercialisation of this product will begin in the first quarter of 2013.