RAC Insurance
A combination of technical expertise, automotive innovation and an understanding of customer needs has resulted in a telematics product that RAC Business believes is truly game-changing.
RAC Business offers a comprehensive range of services and products to UK businesses of all sizes, and currently has around 24,000 corporate and SME customers, with demand for the RAC Telematics product increasing at a significant rate.
RAC Telematics has developed a system which adds value to the entry point of usage based insurance (UBI) products, providing data not only about the driver but also the vehicle that is being insured.
RAC Telematics includes remote diagnostics to assess faults, a highly sophisticated First Notification of Loss (FNOL) alert and analysis system, and a crash detection rate of 92% which has been independently tested by the Transport Research Laboratory. Driver welfare is also a key aspect of the product which will show where the vehicle is and a collision detection function to alert the owner in the event of a collision if the car is being borrowed by a friend or family member.
The full capability of RAC Telematics provides insurers with unrivalled clarity of both the driver behaviour and vehicle health of a potential policy holder, and can therefore establish risk much more effectively.
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Business Development Manager
Sword Insurance
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Senior Manager, KPMG Advisory, Slovenia