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This blog is focused on providing information on Pay As You Drive car insurance in Australia. If you find any information, papers, news articles or websites that we should add, please let us know!

Friday, November 27, 2009

Interesting stats on who are the biggest train travellers, cylists, etc...

We are doing a series of interesting press releases on run of the mill census data. They deal with who the biggest users of alternative transport are in Australia. Like who are the biggest train users. Clearly these people are going to be winners when they take out Pay As You Drive!

From http://www.newsmaker.com.au/news/1938:
Residents of Summerhill are Australia’s biggest users of trains per capita and as a result many of them are probably paying far more for their car insurance than they should says Roger Grobler, CEO of Real Insurance.

Says Grobler: “We have analysed numerous Australian Bureau of Statistics figures across the suburbs of Sydney. While Summerhill residents should be commended on their extensive use of public transport the fact of the matter is that if they have a car they are still paying the same car insurance premiums as those who drive even four times the distance.

“In effect many Summerhill car owners using public transport are subsidising other motorist’s car insurance premiums.

“I believe that there are many drivers in Summerhill who are paying far more for their car insurance than they should given their profile and the distance they drive.

“These motorists are far better off exploring a pay-as-you-drive insurance system whereby they only pay for the kilometres they drive.”

Grobler points out that pay-as-you-drive motor insurance only works for those people who drive less than the average for their area and their demographic profile compared to their peers.

He gives the example of a 39 year old female living in Summer Hill who could save up to $365.29 by going to Pay As You Drive car insurance. She drives a 2007 Hyundai Getz 5 door auto and would traditionally pay motor insurance of around $807.88 per annum. Using Pay As You Drive she would pay $442.59 for 5,000kms, $486.91 for 7,000kms or $553.40 for 10,000kms of car insurance purchased.

Further examples

Cairns
Residents of Cairns are the largest bicycle users in Australia, yet like the train users of Summer Hill, are still paying the same premiums as regular car users.

A 29 year old Female living in Cairns who could save up to $193.90 by going onto Pay As You Drive insurance. She drives a 2007 Mazda 2 Neo Auto and would traditionally pay motor insurance of around $563.50 per annum. Using Pay As You Drive she would pay $369.60 for 5,000kms, $401.94 for 7,000kms or $450.45 for 10,000kms of insurance purchased.

Campbelltown
A 49 year old male living in Campbelltown who could save up to $356.97 by going onto Pay As You Drive insurance. He drives a 2007 Ford falcon Eurosport auto and he would traditionally pay motor insurance of around $874.83 per annum. Using Pay As You Drive he would pay $517.86 for 5,000km, $559.73 for 7,000kms or $621.68 for 10,000kms of insurance purchased.

Pymble
A 40 year old male living in Pymble who could save up to $323.82 by going onto Pay As You Drive insurance. He drives a 2008 Holden Lumina VE and would traditionally pay motor insurance of around $800.67 per annum. Using Pay As You Drive he would pay $476.85 for 5,000kms, $517.90 for 7,000kms or $579.51 for 10,000kms of insurance purchased.

Monday, November 23, 2009

Our Incredibly Talented Team

Once a year we have a conference at Real Insurance that is attended by our entire team. It is a very special event.

We normally have teams performing skits at our conference. This year we replaced the skits by an invitation to produce TV ads for either Real Insurance or Pay As You Drive. Our team produced over 10 adverts, which we screened on a cinema screen at the Entertainment Quarter in Sydney. The TV ads are part of a competition, and the winners are decided by a combination of the idea, creative execution and views on YouTube. The full set of ads will be placed on YouTube shortly.

In the mean time, have a look at this entry. I must say I am blown away by both the idea and the execution. Make sure you listen to the sound effects. This particular ad was made by our IT infrastructure team. How lucky are we to have such a talented group of people that are not only good with their day jobs, but that can also come up with quality like this:

Sunday, November 15, 2009

News Item on California Regulations

People who follow the development of Pay As You Drive motor comprehensive insurance internationally will know that California has released regulations that allow insurers in that US state to offer Pay As You Drive policies.

The news clip below typifies a lot of the news coverage about it. Most of the news on Pay As You Drive over the last few months have been about the Californian regulations.

If you're unfamiliar with the US insurance regulations: In most states in the US an insurance company needs to "file rates", which means that prior to issuing a new insurance policy the way in which premiums are calculated needs to be approved. There are guidelines as to what rating factors insurance companies can use. So in California for instance insurance companies could not do Pay As You Drive until the regulator actually allowed rating to reflect kilometres driven.

Tuesday, November 10, 2009

Latest Real Pay As You Drive TV Ads

We launched a new set of ads last week for Pay As You Drive. The first one features a lighthouse keeper that drives from his house to the lighthouse every day. Not a big distance as you will see in the ad...

It is all farcical of course. As is the next ad, where a women "commutes" out of her driveway to the busstop a whole 20m down the road.

We have a new jingle in the ads, which we will be using going forward, as well as a set of end screens showing our actual team on the phones.

Lighthouse:



Commuter:



Any comments or feedback, as always, is most welcome!