Since the European Court of Justice has prohibited the use of gender to determine insurance premiums, motor insurance providers have turned to technology to better adapt their offerings. Geoffrey Finley is the Executive Chairman of Lysanda, which develops driving behaviour technology used in telematics insurance.
Lysanda was founded in 2005 to develop technology that would monitor driver behaviour to help reduce fuel consumption and to reduce C02 emissions. Today, the technology developed can be easily installed to vehicles and the data can be transmitted to the insurance company.
The use of this technology is today focused on driver behaviour as it provides empirical evidence to motor insurance providers on the individuals they insure. “This technology can identify speeding, hard breaking, hard cornering, heavy acceleration, these kind of activities all of which can contribute to a negative driver performance or profile,” says Geoffrey Finlay.
Lysanda is also readying for future regulations by developing eCall and bCall technology. In 2014 manufacturers will need to equip their vehicles with these systems. These allow breakdown services to have a diagnostic of the failure before dispatching a unit or an engineer. Also, in case of an accident, emergency services will be informed of the severity of the incident and know if an ambulance or a fire engine is needed.
View all our interviews here : http://www.newsinsurances.co.uk/blog/category/video/interview-video-interviews-3
View all our videos here : http://www.newsinsurances.co.uk/toutes-les-videos
