Telematics to drive rise in PAYD insurance cover

A telematics supplier is predicting fleets will be looking at using systems to deliver accurate pay-as-you-drive insurance cover within a year.

Quartix has agreed to supply vehicle tracking systems to Coverbox – a PAYD insurance brand – whose customers pay a rate according to their mileage and the time of day they drive.

Quartix will be installing about 1,200 units a month in vehicles used by Coverbox customers, starting this month, and although the new deal is focused on retail customers, the tracking systems supplier believes there will ultimately be demand from fleet operators.

Andy Walters, Quartix managing director, told Fleet News is would allow fleets to pay only for the mileage covered as well as help monitor driving behaviour and decide at an earlier stage which drivers might pose a higher risk.

“It could enable fleets to predict those drivers who were most likely to have an accident, or if any of the drivers are exceeding speed limits,” said Walters.

“I think fleets could be interested in adopting this kind of system for their insurance in no more than a year.”