Fleet News

FNN exclusive: Norwich Union launches 'black box' insurance

NORWICH Union has launched what it calls the UK’s only telematics-based fleet insurance product.

The new system can provide fleets with performance-based rebates and two-or three-year fixed price cover for a fee from £20 a month.

Its launch follows a 12-month pilot involving a number of Norwich Union customers.

Mark Keavney, Norwich Union’s commercial motor product manager, said: ‘The key objective was to better understand how telematics data could be used to improve fleet management and to help us define this unique product.’

He added: ‘As the largest fleet insurer in the UK, we have used our experience and understanding of the fleet market, and the environment fleet operators currently work in, to design this market-leading product.

‘What makes this product unique is its combination of vehicle usage data and a fleet’s individual claims information. This means that we will be able to offer truly bespoke and relevant risk management advice, specific to the fleet in question to help them manage their occupational road risks.’

At launch, the Fleet Telematics will be available to companies using the Cybit telematics system but this is likely to be rolled out to other technology providers in the future.

The company is now urging companies to contact their insurance provider to see what benefits the system may offer their fleet.

Keavney said the product includes a combination of vehicle usage data and a fleet’s individual claims information.

‘This means we will be able to offer truly bespoke and relevant risk management advice, specific to the fleet in question to help them manage occupational road risk.’

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