State-contingent insurance markets in everything

Fortunately, when you purchase a low-powered car from Young Marmalade, the free installation of a black box can cut your insurance premiums into half. By monitoring the driving behaviour such as acceleration, braking, what time of the day the car was driven and at what speed, Young Marmalade provides affordable telematic insurance premiums.

It’s simple. The black box data is used to calculate premiums, if the car was driven well, the lower the premiums will be and vice-versa.

According to MD Crispin Moger, “A young male driver who has Intelligent Marmalade in his car will pay on average £2,601/year for comprehensive insurance, while a young woman will pay £1,642/year. If the black box detects a bad driver, initial premiums will be subjected to a £250 and £500 increase or Young Marmalade will cancel the policy.”

Here is more, and for the pointer I thank KM.