By: 16 December 2014
ingenie calls for telematics tax exemption to save lives

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[column size=”1/2″]Specialist telematics provider ingenie has joined forces with its insurance partner Ageas UK to call for an Insurance Premium Tax (IPT) exemption on telematics policies taken out by young drivers.

The company says that this would allow insurers to reduce premiums and stimulate demand for black box installation by as many as 245,000 additional policies. Seven years after an IPT exemption, ingenie believes that there would be some 28,749 fewer crashes annually, resulting in a £500 million for the UK economy.

The plea has come after the release of a report compiled by the specialist young driver insurer which has calculated that 40 per cent of crashes involving 17 to 25-year-olds could be avoided through mass market adoption of telematics insurance.

ingenie has used data gathered over 200,000,000 miles of driving on which to base its conclusion. The data has provided an overview of when and where young people drive; the risk they pose to themselves and other road users; and their receptiveness to behaviour change.

According to the report, young drivers are involved in 20 per cent of ‘killed and seriously injured’ crashes and an average of five 17 to 24-year-olds lose their lives on British roads every week.[/column]

[column size=”1/2″]Ingenie Young Drivers Report
Provided by ingenie[/column]