The new deal, branded ‘Vauxhall Insurance for 17-25 year olds powered by ingenie’, will see Ageas providing the underwriting and administration and underwriting capability through a joint Vauxhall and ingenie website, extending the reach of Vauxhall Motor insurance to a wider consumer base.
The partnership builds on the already successful arrangement between Ageas and ingenie, launched in 2011, which offers telematics technology to younger drivers to assess their driving performance and provide feedback on improvements with the aim of lowering the cost of their car insurance. Black box technology is fitted free of charge to the car when the customer takes out an insurance policy and collects data on how their car is being driven. Areas of driving performance assessed include speed, cornering, braking and acceleration.
Mark Cliff, Managing Director of Ageas Insurance Limited said: “We understand the need to make insurance affordable for younger drivers and our experience from working with ingenie has proven that telematics is a significant step forward in helping customers achieve lower premiums based on their driving behaviour. It makes sense for vehicle manufacturers to get on board with this innovation and I’m pleased that we can now extend this offering for the benefit of Vauxhall’s customers.”
ingenie Chief Executive Richard King added: “Young drivers find it increasingly difficult to buy affordable car insurance and ingenie offers a fairer solution that assesses them on their own merits. With one in five of our driver community choosing a Vauxhall Corsa, the partnership with Vauxhall is a perfect fit.”
Mark Pinkney, Marketing Programmes Manager, Vauxhall concluded: "We wanted to provide young drivers who buy their cars through Vauxhall retailers with affordable insurance to help them get on the road. Vauxhall Insurance for 17-25 year olds powered by ingenie will help make it more affordable for first time young drivers but more importantly it will encourage young people to become better drivers through ingenie’s driving feedback.”
Ageas and Vauxhall originally entered into a new insurance partnership in October 2011, where Ageas provides fully branded motor insurance products to Vauxhall’s customers.