IntelliTrac's QBE Insurance Box wins Canstar Innovation Excellence Award 2014
28 March 2014: Melbourne Australia
QBE has taken home a CANSTAR Innovation Excellence award for its Australian-first in-car telematics device, Insurance Box, securing the only award presented to a general insurer for innovation in 2014.
The award, announced on Wednesday 26 March, recognises QBE's use of telematics technology to measure driver behaviour in real-time, encouraging safer driving and enabling the insurer to provide more accurate premiums.
Chairman of Insurance Box Frank Peppard says that the product is a significant move away from the more traditional car insurance policies offered in the market.
"This award demonstrates that in an industry where there is relatively little variation between major brands, QBE's Insurance Box is providing something truly different and beneficial for both the customer and the insurer," he says.
The self-installed telematics device transmits data via GPS and mobile networks to assess driver behaviour and can provide accurate information on collisions, theft and overall driving ability. Consistently safe drivers are rewarded with reduced premiums regardless of age, gender or location.
Executive General Manager for QBE Australia Tim Plant says the product marks a notable step forward for QBE and the industry as it changes the way risk is calculated.
"We are always looking for opportunities to further innovate within the industry and to promote practices and products that have a positive impact on the community and the customer experience," he says.
"For QBE this award goes beyond an achievement in innovation. The data Insurance Box provides enables better assessment of an individual's risk level and not only reward safe driving behaviours through lower premiums but encourage our customers to become safer drivers," he says.
The CANSTAR awards for Innovation Excellence are held every year and are open to entrants from the banking and insurance sectors that demonstrate innovation in their respective fields.
CANSTAR Research Manager, Mitchell Watson says the product was a clear award winner with its design helping to protect drivers and reward those who drive carefully.
"Insurance Box stood out for a number of reasons including its easy installation, its DriveScore feature, and its real-time data feed designed to help speed up claims. Our Research team felt that it has the potential to be a market game changer, particularly for younger drivers. In terms of innovation, it had the "wow' factor that we were looking for," he says.
IntelliTrac is an Australian owned company established in 1987 and a specialist telematics solutions provider which partnered with QBE to develop InsuranceBox.
IntelliTrac's blue chip clients come from a broad range of industries. They include:- The United Nations, The World Bank, Australian Federal Government, Australian Local Government, Police, Prisoner Transport, Major Australian Banks, Major Logistics and Transport Organisations, and Mining, Oil & Gas companies.
More information about IntelliTrac is available at www.intellitrac.com.au
More information about Insurance Box is available at www.insurancebox.com.au
Mr. Dean Calapai
CEO and Founder
Phone:- +61 3 9467 6188 ext. 228
Mr. John Durante
Phone:- +61 3 9467 6188 ext. 232