Device does not monitor driving behaviour but provides FNOL and assistance in the event of an accident
Markerstudy has launched a new telematics device that instantly provides first notification of loss (FNOL) in the event of an accident.
Known as First Reporting Emergency Device, or FRED, it is self-installed by the policyholder by attaching it to the windscreen.
FRED transmits vehicle identity and location and provides at-the-scene advice to the policyholder, helping to speed up the response of emergency, breakdown or recovery services.
Markerstudy group underwriting director Gary Humphreys said: “With around 15% of all policies resulting in a claim, it’s important the industry does all it can to provide a positive experience to customers. At Markerstudy Group, we’re always looking for ways we can help our brokers stand out from the crowd, and FRED does just that.
“It’s big on technology, small on complexity and engages with the policyholder in a way that a black box does not. It doesn’t monitor driving style – it’s purely a safety and security device to help the driver in the event of an incident.”
Markerstudy will start distributing the policies to broker partners and affinity groups in the summer. It is designed for policyholders paying premiums of more than £450 a year.