/24-7PressRelease/ - LONDON, UK, August 09, 2006 - Now that the car loan finance companies have started offering car insurance, the largest car insurance company Norwich Insurance has decided to expand the 'pay-as-you-drive' scheme insurance trials.
Norwich Union, the insurance company had expanded the scope for its 'pay-as-you-drive' insurance trials after signing-up the Intec Telecom Systems to provide an itemized monthly bill for the vehicle's insurance.
After conducting trials on approximately five thousand UK motorists and fifteen hundred young driers over the past eighteen months, the scheme was expected to expand about one lakh by the end of the current year.
The signed-up system worked after putting a black-box in the customer's car. Norwich Union's central database would monitor the driver's motoring skills using Global Positioning System (GPS) over a secured mobile network.
The hi-tech system was expected to benefit conservative or infrequent drivers who had paid similar premiums to motorists who regularly used their motor vehicles. The data could also be used to calculate the road tax that individual drivers were liable to pay including their risk premium.
Though a Norwich Union's representative did not disclose company's plan to launch the technology into the mass market. However, he added that it would use the information gathered from the targeted users to consider the deployment of the system.
For Intec, the contract would expand the use of billing technology into a new market. Intec provided billing system to telecommunication companies including Virgin Mobile and Vodafone.
Norwich Union had experienced significant interest from its customers in the 'pay-as-you-drive' scheme and had launched similar projects in the US and South Africa.
For additional information on the news, that is the subject of this release (or for a sample, copy, or demo), contact Webmaster, or visit http://www.adverse-credit-car-loans.co.uk
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
- adverse, bad, car, cheap, cost, credit, loan, loans, low, new, used
Read more Press Releases from David Parker:
