Ingenie swells capacity with Covéa

Telematics broker Ingenie has increased its capacity with the addition of Covéa to its panel.

Covéa joins Ageas and RSA on the panel of the young drivers telematics specialist.

Ingenie said the additional resource would help it continue to offer cheaper premiums to young drivers compared with conventional insurance policies, and reflected growing driver demand.

Chief executive and founder Richard King said: “Ingenie is growing rapidly and our decision to work with a third underwriting partner will enable us to continue growing at this fast pace. We’re delighted with the progress we’ve achieved in just over two years since launching and look forward to working with Covéa as we continue this journey, offering safe young drivers significantly cheaper insurance and encouraging them to be safe on the roads.”

Ingenie reviews insurance premiums every three months to encourage safe driving. After one year of driving well, the average Ingenie customer sees their premium halve.

RSA will remain on Ingenie’s panel when it launches its own telematics product next year under its direct brand, More Th>n.

Last month Ingenie won the Prince Michael International Road Safety Award for its “innovative and effective use of technology to feed back to the young drivers”.