Following the news that over-50s are paying more than the safest young drivers who use black box insurance, Crispin Moger, CEO at Marmalade, explains that young drivers simply require support and not high premiums.
Crispin Moger, CEO at Marmalade, says: “When I first considered starting my own business I believed there had to be a better way for insurance companies to work with younger drivers and insure them on ability rather than age.
“I’ve never been that impressed by the ability of some of the older drivers I have seen and this spurred me on to make changes. In actual terms of ability, young people are generally very good drivers, with better reaction times and so on but they simply lack experience. I wanted to help this group and see if there was a way of getting them lower insurance premiums so they could afford to benefit from the freedom that driving can offer.
“At Marmalade we offer advanced telematics-based insurance for our young customers. Our ‘safety first’ approach means that we can help young drivers to drive sensibly on the roads and be aware of the dangers, creating safer younger drivers which in turn enables us to offer low premiums from the outset. It’s a win-win situation and we’re not going to change our approach, so we can continue to offer the best possible price for young drivers.
“Using up-to-date black box technology, we monitor driving and flag to young drivers when there is a problem based on accelerating, braking, cornering and speed. If there is an issue, we call our drivers within 24 hours to discuss what happened and provide advice on avoiding the same mistakes. This has enabled us to achieve a fantastic safety record, which has in turn meant that we can keep our premiums low.
“The topic of young drivers and associated insurance premiums will always be of interest. Our focus at Marmalade is to keep the safety of our young drivers at the heart of the business and make sure they have the experience and knowledge to be responsible users of the road.”