Abstract :
Car insurance providers are introducing location-based insurance premium balancing services that will adjust the amount you pay depending on the risk attached to you car´s geographical location. UK vehicle insurer Norwich Union offered pay-as-you-drive insurance. This paper presents a policy that calculates driver insurance premiums using in-car global positioning satellite (GPS) technology, or telematics black boxes, to track vehicle usage and location - including time of day, type of road, and mileage - before sending users an adjusted bill at the end of each month.
Keywords :
Global Positioning System; driver information systems; geographic information systems; insurance data processing; GPS; Norwich Union; UK; car insurance providers; driver insurance premiums; geographical location; in-car global positioning satellite technology; location-based insurance premium balancing services; mileage; pay-as-you-drive insurance; premium binds; telematics black boxes; time-of-day; type-of-road; vehicle location tracking; vehicle usage tracking;
