The recent EU road safety legislation announcement states:
Cars sold in the European Union from 2022 onwards will be required to be fitted with a range of new safety systems as standard, including intelligent speed limiters and monitors that can detect when a driver is drowsy or distracted.
The European Commission has approved the legislation, which was proposed last year and provisionally approved last month, in a bid to improve road safety. The legislation is due to come into effect from May 2022 for new models that haven’t been designed yet and May 2024 for new versions of models currently on the market. The measures are subject to the formal approval of the European Parliament and EU member states in September.
In response to this announcement Dr Colin Smithers, Redtail CEO said: “Improving road safety is our number one prerogative, and with the reduction in risk comes a reduction in insurance premium costs, which for young drivers especially is often greater than the value of the car they drive.
“However, the EU ambition may be limited, and not embracing i) sufficient aspects of driving safety and ii) the technical capabilities of proven technology.
“Speeding is but one parameter of driving with care and attention. Redtail scoring uses 15 additional parameters.
“These additional parameters more thoroughly score and scrutinize driver risk in the round, particularly including how drivers navigate corners.
“We are acutely aware that both insurers and Automotive OEMs take a little time to strategize and execute against new initiatives in the connected vehicle space – the data becomes ever more compelling, the action not necessarily moving at commensurate pace!
“As a parent of three young drivers who have all had telematics policies I can also state categorically that by far the most important aspect of black box telemetry is its stabilizing and educating effect on the mind of the young driver, which is far greater than a parent alone can achieve, trust me on this.
“The cost savings are very secondary to this vital benefit. I hope very much that we can help lobby and amplify the EU intent in embracing a broader view of road safety, and implementing plans in a practical and timely manner.”