Pay As You Drive car insurance blog

 At Real Insurance we are very proud of the fact that we launched the world's first trust based Pay As You Drive car insurance. We are proud of the fact that we have been offering Pay As You Drive now to Australian motorists for almost two years. The take-up of the product has been nothing short of astounding, and it is working very well for our customers. Our average customer saved 25% off their normal car insurance premium. They are getting a fair deal. At last. We are particularly proud of Pay As You Drive when we see a video like the one below, that shows how other countries (Cana...

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On April 20, 2010, the US Department of Transport released a report titled ‘Transportation’s Role in Reducing U.S. Greenhouse Gas Emissions”. The report ranked Pay as you drive car insurance as being relatively effective in reducing emissions and extremely cost effective in reducing these emissions. However, Todd Litman’s response to the article explains why the impacts and benefits of PAYD car insurance are probably much higher. The USDOT report assumes that US federal policy would require that insurance companies at least offer PAYD policies. The report goes o...

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An article appeared a week and a half ago by Gail Broadbent with the title "Premier must lift the curse of the cars". It talks about the costs to society of people using cars. Pay As You Drive Insurance is estimated to reduce driving by 8-12%. The reason for this is that traditional insurance pricing for cars is like an all-you-can-eat buffet. You pay once and then drive as far as you want. This is not equitable, not smart and is in fancy terms an negative externality, which means people drive more than they would if they were paying fairly for car use. There is a fair bit to be...

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The Blue Tongue beer company ran a great billboard campaign a year or so ago. The tagline read something like: "We never believed in awards, until we won one...". At Real we feel the same way. We don't really believe in awards, but we love getting them! This one is I think my favourite so far, as it recognises the impact that Pay As You Drive can have on the environment.Real Insurance wins Best Climate Business AwardReal Insurance received the 2010 Money Magazine Best of the Best Climate Business Award. The Best of the Best awards are now in their ninth year with Real pr...

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Another excellent post by Bern Grush at Grush Hour: (original post here)  If Steve Jobs decided to design a stick-on-your-windshield gizmo to handle payment of road tolls, what would he do so that people would line up outside the Apple store starting the night before to be the first to get one?You’re probably thinking he wouldn’t be caught dead doing that, right?But what if he knew there is talk of putting one on every car in the US after 2015? And every car in Europe in that same time-frame? And on every car in several Asian countries, as well? You know, fo...

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The following is an article that appeared in thetyee.ca in Canada. It talks about how the large insurance company ICBC is stonewalling Pay As You Drive insurance, in spite of the fact that it is great for consumers, the environment, and even the insurance industry. The large Australian insurers should heed the same advice.Drive Less, Pay Less: Why pay-as-you-drive auto insurance would help just about everyone -- and how the province keeps missing the boat.By: By Alan Durning and Eric de Place, 29 December 2009, TheTyee.ca  View full article and comments: http:/...

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Bern Grush is a blogger that is worth checking out for his posts on PAYD related topics. In his latest post he discusses what Governments can do to promote telematics. What is particularly interesting to me however is his description of Pay As You Go parking, which is enabled through telematics.  I must say, I won't miss the sight of Parking Rangers waiting to pounce on the next car to write a ticket, and nor would I miss the sight of a whole Sydney street lined with "mobility" parking permits. I am sure a telematics based system will finally weed out the cheaters of th...

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At Real Insurance we have an annual conference, which is a big deal. Everyone goes away for a day or two and we discuss what we do and have a lot of fun at the same time. Normally at the conference a number of teams perform skits, which are always very funny and entertaining. This year, as the conference venue was a movie cinema, we changed the format and a number of teams produced mock TV-style commercials for Real and for Pay As You Drive. The winning ad will be chosen based on creative idea, execution, and a crowd vote by way of seeing who gets the most views on YouTube. So the competiti...

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We are doing a series of interesting press releases on run of the mill census data. They deal with who the biggest users of alternative transport are in Australia. Like who are the biggest train users. Clearly these people are going to be winners when they take out Pay As You Drive! From http://www.newsmaker.com.au/news/1938: Residents of Summerhill are Australia’s biggest users of trains per capita and as a result many of them are probably paying far more for their car insurance than they should says Roger Grobler, CEO of Real Insurance. Says Grobler: “We have analysed nume...

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Once a year we have a conference at Real Insurance that is attended by our entire team. It is a very special event. We normally have teams performing skits at our conference. This year we replaced the skits by an invitation to produce TV ads for either Real Insurance or Pay As You Drive. Our team produced over 10 adverts, which we screened on a cinema screen at the Entertainment Quarter in Sydney. The TV ads are part of a competition, and the winners are decided by a combination of the idea, creative execution and views on YouTube. The full set of ads will be placed on YouTube shortly. I...

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