Cheap car insurance through fuel efficiency iPhone app?

The creators of an app for the iPhone that aids motorists in conserving fuel have reveled it is in talks with one of several car insurance companies to begin a possible roll-out of the technology.

UK startup DrivGain’s chief executive, Simon East, remarked at an industry round table recently that a discount car insurance provider is looking for ways to use the app.  The firm is currently in the process of finalising a deal with an undisclosed insurer in order to offer their technology as part of it, he added.

DriveGain remarked that motorists in the UK can save as much as £170 a year simply by using the app, which gives both audio and visual feedback on how to drive more efficiently.

In related news, one new Fiat study found that reductions in insurance were the most popular incentive to adopt driving techniques that are more ecologically sound.  83 per cent of those who responded remarked that they would adhere to such motoring tactics if it decreased their car insurance rates by doing so.

One such insurer, the Co-Opertive, already uses a similar device known as the Smartbox, which utilises ‘Pay How You Drive’ technology in order to record the minutest details of how your drive.  The device uses GPS information in order to show Co-Op the whereabouts of any particular car, in addition to information recorded during your motoring about – so they’ll know if you’ve been going too fast around those roundabouts.

Gathered data is then utilised every 90 days to to re-determine whether the driver’s premium should be adjusted or not, and can result in higher rates for particularly careless drivers – while it can also reward good behaviour by lowering rates.

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