Insurance technology specialist SSP today announces that Sabre has begun a pilot for the SoteriaDrive telematics solution. Developed by SSP in conjunction with Wunelli, SoteriaDrive is the first whole of market telematics-based insurance product to be available via high street brokers.
SoteriaDrive, an app-led solution that also supports black boxes, opens up telematics to a potential market of over 1,000 SSP brokers who account for a large slice of all UK private car transactions in the broker market, enabling them to capitalise on the growing demand for behavioural-based insurance.
In a ringing endorsement for the solution, Sabre will shortly be joined by Covéa Insurance and three other insurers committed to join the pilot. The solution has already gained acceptance within the broking community, with A-Plan going to pilot earlier this month.
“These are exciting times for the insurance industry, with telematics-based policies set to become mainstream in the coming years,” said Adrian Coupland, Head of Data Strategy at SSP.
“For too long, local independent brokers, who are at the heart of the insurance industry, have been left out of the telematics-based private motor insurance revolution. With SoteriaDrive, SSP is redressing this, firmly establishing its position as leaders in the telematics field. This has been recognised by prestigious firms such as Sabre, Covéa Insurance and A-Plan, which have a deep knowledge and experience of the motor market, choosing to work with us.”
Advanced functionality, such as the auto-start feature, makes SoteriaDrive an attractive proposition for brokers and customers alike. By detecting when the vehicle is moving and automatically activating the SoteriaDrive app, the onus on policyholders to remember to start the app every time they begin a journey is removed.
Patrick Swords, Underwriting Director at Sabre, said:
“SoteriaDrive is a unique proposition, the result of a best-of-breed partnership between two companies we have longstanding relationships with – SSP and Wunelli. As Sabre is committed to opening up the growing telematics market to our brokers, we are delighted to be at the forefront of such an innovative development.”