App and Tag – what does that mean to you?
One welcome outcome of the pandemic is an upturn in consumer demand for ‘fairer’ car insurance, of which the low mileage proposition (pioneered by ByMiles in the UK and KOBA Insurance in Australia) is at the forefront. REDTAIL’s new App and Tag solution provides a personal and lower-cost combination of sensors + phone to deliver accurate and immediate journey data.
Both App and Tag can be branded and policy holder journey refined to your needs.
Redtail developed a key fob based device to support vehicle tracking for the automotive sector. This key fob is the “tag” part of App and Tag.
In its Usage Based Insurance guise, it has the following features:
- Bluetooth Low Energy – module
- Coin cell battery (3yr life)
- Customisable plastic housing
- Our customary flexible firmware and OTA updates
We can push out a notification as soon as a journey is ready.
Our App is fully customisable (at cost) and can be integrated with Broker App(s). Policy holder journeys are documented in pictorial and narrative form and can also identify driving events like harsh braking and acceleration. Data for each journey and month is presented with hours and miles driven and costs in two models: monthly sub plus : either end of month charge or monthly mileage budget clocking down.
Journey data recorded by App and Tag:
End of month charge option in app:
Monthly mileage budget clocking down:
This provides an intuitive and turn key solution for insurers enabling swift implementation of your preferred billing option.
We have analysed data from our full book to corroborate the view that fewer miles on the road is indeed a corollary to risk, and as can be seen in this graph, driving 60 miles per day is twice as risky as driving 20 miles a day.
REDTAIL’s work with insurers so far has produced promising results for an App and Tag solution.
We have enjoyed many conversations with insurers on the fairness and ease of use of this innovative solution. Invariably these conversations have led to a small pilot (of which we are fans!) deploying a couple of handfuls of tags and our beta test app, moving to a bigger pilot to refine the proposition, and tune to your brand, business, economics and opportunity.
Do contact Andrew Little – firstname.lastname@example.org; 07964 900232 – for an initial conversation.