No Nonsense seeks to transform low cost car insurance market
No Nonsense Ireland’s low cost car insurance company, has launched SmartDriver – state of the art telematics technology aimed at cutting out the nonsense in the car insurance market by offering cash back based on individual driver behaviour.
This technology, which is now being offered by over 60% of UK car insurance firms, is set to transform the way in which car insurance premiums are determined and works on the basis of rewarding safe drivers for their behaviour on the roads.
The new No Nonsense SmartDriver* offer will use an in-car telematics device to measure driver behaviour and prove, once and for all, who are the safest drivers, settling an age old debate amongst couples, friends and families. The news comes as the EU Courts have banned insurance discounts based on gender and will be seen by many younger women as an ideal way to avoid the significant increase in premiums and instead get cash back of up to 30% with No Nonsense.
In a study conducted to mark the launch of the new SmartDriver* offer from No Nonsense, research has revealed the true extent of the rivalry between male and female drivers. In a survey of almost 1000 drivers, 61% of men indicated that they believe that they are safer drivers than women with 82% of women drivers disagreeing. Men and women also disagree with each other regarding the introduction of new EU laws which prevent use of gender on setting insurance premiums, with 70% of men welcoming the move and 73% of women disagreeing. However there was little disagreement when it came to monitoring driver behaviour in order to get cash back, with 82% of both men and women saying they would be willing to partake if they thought they could benefit financially.
Commenting at the launch Mr Jackie McMahon, General Manager of No Nonsense said “We see the introduction of these new products as another step towards cutting out the nonsense in the Irish car insurance market. It should be all about how safe a driver you are. For the first time, younger drivers will now have the opportunity to prove that they are safe drivers and, in so doing, receive up to 30% cash back in their premiums. With the introduction of SmartDriver and Ready Made to complement our existing Build Your Own product, we have further enhanced our commitment to deliver the most options to give consumers car insurance at the lowest cost.”
Since its introduction in 2008, No Nonsense has continued to challenge the established players in the Insurance market by cutting out the nonsense associated with purchasing insurance and giving consumers the most solutions to get the lowest price. The introduction by No Nonsense of telematics technology in Ireland follows on from the current trend seen in the UK and mainland Europe where telematics is being credited with reducing accidents and premiums. In the UK alone, sales of telematics insurance products has increased five-fold in the last two years, from 35,000 policies in 2010 to 180,000 in the first half of 2012 with the number predicted to rise to 500,000 in the next 18 months. SmartDriver is a product aimed at drivers under 30 who drive safely and are tired of paying high premiums. The product measures driving behavior and offers discounts to those who prove to be safer drivers and therefore at lower risk of accidents.
This new product offering will complement other No Nonsense products such as the recently launched “Ready Made” offer – low cost comprehensive insurance and “Build Your Own” to provide consumers with the most solutions to get the lowest price.
For further information drivers should log on to www.nononsense.ie or call 1890 25 27 37