Conventional vehicle insurance costs have been based on age, gender and driving experience; rather than how you actually drive.
Due to European legislation, from December 2012, insurers are banned from offering lower premiums based on gender; men usually have higher insurance costs than women.
Lysanda's device will enable premiums to be set according to a driver's actual behaviour or 'Pay How You Drive' rather than just age, gender and experience; potentially saving both the driver and the insurer money.
Lysanda's device has 'black box' capability, so the car's 'vitals' are recorded and monitored, in the event of a collision the insurance company can be provided with an objective record of the potential cause of the collision; eliminating fraud and forensic costs.
Due to European legislation, from December 2012, insurers are banned from offering lower premiums based on gender; men usually have higher insurance costs than women.
Lysanda's device will enable premiums to be set according to a driver's actual behaviour or 'Pay How You Drive' rather than just age, gender and experience; potentially saving both the driver and the insurer money.
Lysanda's device has 'black box' capability, so the car's 'vitals' are recorded and monitored, in the event of a collision the insurance company can be provided with an objective record of the potential cause of the collision; eliminating fraud and forensic costs.
