According to a recent study conducted by Netstar tracking company, it’s been proven that women are safer drivers than men. 🙋♀️
They collected data over a period of four months, calculating registered incidences of vehicle impacts, harsh braking, harsh acceleration, and harsh cornering as a percentage of total male and female customers. The results proved women performed better than men on EVERY. SINGLE. METRIC. 🔥
Not only are women safer drivers, but data shows that they also spend far less time on the road, especially at night. This is important for the insurance industry because there is a higher risk of accidents occurring at night than during the day.
As a result, car insurance companies calculate reduced car insurance premiums for female drivers.
Traditionally, insurance policies were based on a category of drivers rather than looking at a driver at an individual level. Many insurers still apply that approach since they have not introduced the technology that allows for measuring the driver’s individual behaviour.
Technological developments continue impacting the vehicle insurance sector significantly. The insurance industry is now able to customise its insurance offering on a more individual, personal level than ever before – thanks to technology. This is known as “UBI” (Usage Based Insurance).
A significant benefit that technology allows today is for an insurer to measure how much driving a particular customer does in a certain period, and then, where applicable, to return some of the monthly insurance premium to that customer. This is known as a “cashback”.
It has been reported that, on average, women drivers are receiving an average of 22% of their premiums back in cashbacks!
Data collected through the information provided by these new technologies can be highly beneficial to the individual customer.
It also serves society well by revealing certain driver trends and behaviours, allowing us to make South African roads a safer place for all.
Suspect you should be paying less on your insurance premiums? No problem – Click here to easily compare multiple quotes from various insurers 💰
Stay safe on our roads & don’t get bamboozled, friends! 💁🏽♂️
Jono
