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Posted November 14th 2008

Pay as you Drive Insurance Returns

Following the withdrawal in the summer of Norwich Union’s ground breaking Pay as you Drive Insurance a new entrant is about to launch a similar product with a twist!

Cobra Wuneilli is a name that is not familiar to most motorists, however, the Cobra brand is the European market leader for Stolen Vehicle Recovery using GPS/GSM tracking systems with clients such as Audi, Bentley, Ferrari, Lamborghini, Maserati, Mitsubishi, Nissan, Porsche, Renault and Volkswagen.

The solution offered to the car insurance industry is a “smart insurance” solution that provides insurers with the opportunity to charge policyholders for mileage at the times that they drive.
Why is the different? Cobra Wunelli claim that comprehensive insurance cover can be obtained from less than 1p a mile.

The system also incorporates vehicle theft tracking which means that in the event of theft, the vehicle tracking device is activated. It is claimed the product will be offered through a choice of leading insurers. Lastly motorists can view driving habits and insurance through the company’s website portal which could help save up to 25% in fuel consumption.

It is hoped this “pay as you drive” car insurance product will succeed where others have failed, not least because Cobra Wunelli are working in partnership with leading insurance companies and database management specialists CDL.