Ex-England footballer, Gary Lineker, has decided to support ingenie, a new online car insurance provider. The insurer is specifically targeting motorists between 17 and 25 years of age who have had trouble keeping their cars on the road due to massive car insurance rates, which can run as much as £2,400 or more on average for this class of motorists.
In order to encourage its customers to drive more safely, ingenie will fit the cars of its customers with a telematics device that sends updated information to their mobile phones regularly to showcase their driving habits. The provider will then adjust rates quarterly based on the gathered information, with less expensive premiums going to those who demonstrate safe driving skills.
Mr Lineker, a father of four, says that the insurer is offering real alternatives to more traditional forms of cover, as drivers will pay less in insurance premiums the better they drive. Others are backing the new insurance, such as Steve Broughton, RSA Insurance’s former managing director, while Richard King, co-founder of Innovation Group and Chris McKee, former director for Direct Line, are heading ingenie’s executive team.
Company founders have been wagering the new, innovative cover is sure to be a hit with younger drivers, as investors have already sunk £3.5 million into development costs for ingenie. Telematics technology is becoming more and more prevalent in the UK as drivers seek to manage the cost of motoring in the face of massive insurance and petrol price increases.