02 July 2015

Norwich Union introduces 'pay as you drive' car insurance online

23 January 2007  |  8299 views  |  0 Norwich Union

Norwich Union says its 'pay as you drive' insurance scheme, which requires a telematics black box to be fitted to the car, is now available to purchase online.

The insurer officially launched the scheme to UK motorists in October last year after piloting the system for four years.

NU launched two new Pay As You Drive insurance policies, one for motorists aged 24-65 and another for young drivers aged 18-23. Motorists can get a quote and purchase a policy on the insurer's Web site.

Customers who sign up to the scheme will receive monthly bills based on car usage, including time of day, type of road, and mileage. Itemised billing will be available with the premiums for each journey calculated and totalled.

Iain Napier, director of Pay As You Drive insurance at NU says the scheme offers motorists greater choice, control and flexibility in their motor premiums.

"We have received terrific feedback and take-up of the policy since we launched three months ago. Buying online is just the latest step for Pay As You Drive insurance," he adds.

However research released by personal finance site moneysupermarket.com last year found that over a quarter of UK drivers (27%) would refuse to have a 'black box' tracking device fitted to their cars, even if it dramatically reduce insurance costs.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

05 October, 2006
14 September, 2006
30 August, 2006
25 July, 2006
03 May, 2006
12 January, 2005
18 August, 2004

Related company news


Top topics

Most viewed Most shared
Global fintech investment triples - Accent...
9134 views comments | 47 tweets | 27 linkedin
Barclays takes on Apple with wearable paym...
8152 views comments | 38 tweets | 32 linkedin
Wells Fargo to usher in voice and facial b...
6277 views comments | 20 tweets | 25 linkedin
European ACHs form Sepa joint venture
5243 views comments | 22 tweets | 15 linkedin
Singapore pledges S$225m to fintech
5062 views comments | 21 tweets | 17 linkedin

Featured job

to $120K base + bonus
New York City, NY (USA)

Find your next job