You may have heard or read about the mysterious “black box” installed in some vehicles. A black box is a telematics device installed on some cars that sends information back to the insurer. The information it sends back to the insurer can be how fast a car was going, how the driver brakes, etc, all this can be used to reduce or increase a driver’s insurance premium. For some it can be away to lower their insurance costs.
Recently three (3) people filed claims for injuries due to an accident, and the black box “proved their claim was implausible”. Three passengers in lorry were struck from behind by a Vauxhall Astra, which was insured through Aviva. The three claimed £54,000 for injuries and damages. The data from the black box showed the claim injuries could not have occurred due to the accident. Way to go black box!
The use of black boxes and dash-cams are a valuable tool in not just fighting fraud, but also helping to reduce the overall costs insurers face. Swiftcover.com has offered customers a 10% discount if they install a dash-cam. Some insurers are developing apps for mobile phones that can be used in conjunction with telematics boxes.
Technology is moving us along in many ways. (pun intended)
Insurance fraud is one of the largest factors in causing premiums to rise. Neil Thomas of the Assest Protection Unit stated, “Motorists must be careful of opportunists who apparently escalate the severity of an incident in an attempt to profit from the situation.
“Fraudulent personal injury claims add millions to the cost of the nation’s insurance premiums. Many fraudsters prey upon vulnerable motorists in premeditated attempts to fleece them and their insurance firm out of thousands of pounds but others are simply opportunistic.”