Smartbox Technology

Smartbox Technology

Insurance firms area unit implementing smartbox technology thus smart drivers will like low-cost insurance rates.

The smartbox, almost like a recorder for airplanes, records details concerning however your automobile is driven, which may lead to low-cost insurance for accountable drivers.

The device is connected to the physical science in your automobile and collects a large criteria of knowledge like time, speed, braking, cornering, acceleration and placement.

new electronic inventions The smartbox knowledge is wireless transferred in real time to the non-depository financial institution and provides a profile of once, wherever and the way you drive. This profile is then wont to compare insurance rates and to reward low-risk driving behavior with low-cost insurance rates.

Drivers area unit insecure after they drive without showing responsibility like rushing, frequent lane dynamic , driving in insecure locations or at insecure times like in serious traffic or late at midnight.

These new electronic inventions area unit supposed to switch the quality observe of categorizing drivers into cluster behavior to work out amount of money and premium payments.

For example, young drivers area unit a lot of possible to drive quick, drive at midnight. and use a telephone whereas driving. Statistically, young drivers area unit a lot of possible to cause Associate in Nursing accident thus insurance firms charge them higher rates to hide the prices of accident claims.

So albeit you are a young, accountable driver, you may pay high insurance rates as a result of cluster behavior.

This technology permits you to supply proof that your driving behavior does not match the pattern of your demographic cluster.

All the data collected concerning your driving may be viewed on-line - together with what you are doing well and what might be improved. Your payment is then calculated consistent with your driving profile.