ingenie car insurance focused on young drivers launches in Ontario
Monday, March 9, 2015 at 9:38AM 
Now available in Ontario exclusively for drivers aged 16-24, ingenie insurance is designed to help young drivers become better, safer drivers, then reward them with Good Driving Discounts. In the U.K. where ingenie has been available since 2011, the approach has reduced young drivers’ risk of accident during the first six-months of driving by 40%.
Young drivers insured by ingenie install a Smartbox in their car, which builds a picture of their driving style based on indicators such as speed, acceleration, braking and cornering. Customers receive feedback on their driving every 10 days through the ingenie app or online at ingenie.ca.
“Traditionally, young drivers have been discriminated against and treated as a high risk by the insurance industry. ingenie is all about providing auto insurance specifically designed for young drivers,” says Richard King, ingenie founder and CEO. “We help young drivers develop a good driving style, then reward them for how they actually drive, rather than treating them as a statistic.”
Compared to traditional insurance models where drivers would have to wait until the end of the year to see a discount, with ingenie young drivers can earn their Good Driving Discount three times a year – up to 25% off a year in total. This helps to overcome the biggest hurdle between young drivers and car ownership; young drivers in Ontario say the cost of insurance is the biggest barrier to owning a car (60%), even more so than the up-front cost of buying a car (54%).
“This regular feedback and financial incentive can reduce insurance costs and is proven to help young drivers develop safe driving habits. In fact, in the U.K., over 90% of drivers regularly engage with their driving feedback to see how they’re driving, find tips to help them improve and check how much they’re on track to save. They are safer drivers as a result and proven less likely to be involved in a collision,” says King. “We’re excited to launch in Ontario as we are confident ingenie can reduce the number of young drivers involved in accidents and help make their auto insurance more affordable.”
ingenie is the first broker to allow young drivers to get an auto insurance quote, see how much they could save by driving well and quickly complete their purchase online. They also have the option to speak to an ingenie advisor if they have any additional questions.
After signing up with ingenie, drivers are sent a Smartbox, a small self-contained unit, which collects data on driving behaviour. Drivers can install the Smartbox easily on their own by plugging it in to their car’s OBD (Onboard Diagnostic) port. Soon after beginning to drive with the Smartbox, customers can review their regular feedback, driving score and possible Good Driving Discounts in the ingenie app or online.
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