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Biz Launches Data-Driven Car Insurance for Youth

TELEMATICS—UK

June 27, 2013

UK-based Tesco Bank has launched a new car insurance service that tracks and analyzes driver behavior to determine policy rates, Information Age reports. Called Box Insurance, the company places technology in a customer’s vehicle and uses telematics data from the car, which is then sent to the insurer’s data center for analysis. The Association of British Insurers recently posted an advisory note warning that companies must be transparent about their data use, stating, “Consumers need to trust insurers to treat them fairly and protect their personal information.” Tesco has said it will “keep all your data, including driving data, safe and confidential,” adding that it won’t “share driving data with the police or other bodies without a court order or your consent, unless we suspect fraud.”
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