Oct/Nov 2006

Norwich Union has approved Masternaut as a provider of in-vehicle telematics system for use with its Fleet Telematics insurance product.

At the time of the launch two years ago Cybit was the only approved supplier, having worked with the insurer for a year on systems development and trials. But Norwich Union said at the time that it "would consider additional fleet telematics providers and their technologies."

Under the agreement with Norwich Union and the operator, Masternaut presents a monthly activity report to the insurance company. This report provides a range of vehicle and driver data such as number of journeys, mileage and duration, plus details of the type of road used and speed.

Norwich Union then analyses the data reports to calculate an annual "risk recognition rebates", which can be up to 16 per cent of the annual policy premium. Other risk management support is also provided.

 

The first company to be named as having achieved a rebate from Norwich Union through using the Masternaut tracking system is Hopkins, a manufacturer and supplier of high quality-catering equipment, which has received a rebate of £1,800 on its annual premiums.

Cybit for its part also continues to promote Fleet Telematics system strongly. One of the latest operators to take it up is Scanfreight, which is using it in 26 of its heavy vehicles. Fleet director Richard Adlem says the incentive for fitting the system was twofold - the operational benefits of increased visibility and control, and the potential insurance savings.

In this case the insurance cover was negotiated by FMW Risk Services, one of Cybit's specialist telematics brokers.

Meanwhile, Norwich Union has now launched a more consumer-oriented system with some similarities to Fleet Telematics. Its Pay As You Drive is offered through its own RAC In-car Services, but there are also links with Trafficmaster, which is offering added-value services such as Smartnav navigation and Safespeed speed monitoring.