Italian motorists rush to pay-as-you-drive insurance service
Octo Telematics reports 170,000 active pay-as-you-drive insurance policies at the end of Q2-2006.
Octo Telematics, a part of the MetaSystem group, reports 170,000 customers were using the company's ClearBox pay-as-you-drive insurance solution at the end of Q2-2006. Subscriber growth was 36 percent over the last quarter. ClearBox is a based on a GPRS/GPS tracking devices that is fitted in customer vehicles and report driving behaviour back to the insurance company. Safe driving is rewarded with reduced policy rates. ClearBox is offered by several leading insurance Italian companies, including AXA, Sara Assicurazioni and Unipol.
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