Looking for discount car insurance? There’s an app for that

If you’re a younger motorist looking for discount car insurance for young drivers, a new smartphone app is currently in development that may not only lower car insurance rates but also reduce the number of road traffic accidents in the 18 to 24 male motorist demographic.

Road safety improvements would bring cheaper car insurance to all drivers, not just younger motorists, and the new smartphone app could accomplish just that, says the four student team from Ireland’s Sligo Institute of Technology.  The team came out on top of a Microsoft design contest, beating out 350,000 other competitors, and now the four students have high hopes of finding a partner to aid them in bringing their idea to the insurance market.

The app works by making driving safely fun by using telematics – a technological breakthrough that the insurance industry has been making use of more and more.  A telematics device interfaces with a vehicle’s computer, recording a driver’s motoring habits, and then sends the information via SatNav networks for analysis – and drivers that operate their vehicles in a safe, responsible manner have been paying less in insurance premiums as a result of their reduced risk profile.

The app goes one step further by turning the whole thing into a game, computing a ‘score’ for your driving behaviour and pitting your scores against other app users in a competition to be the safest driver on the road.  Rewards and prizes await the best motorists, and insurers may also choose to reward the drivers most dedicated to road safety by lowering their rates in response to their responsible driving.

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