Insure The Box

UK-based Insure The Box (ITB) provides auto insurance using telematics. The company fits a “black box” (with a sim to transmit data) in the car to track driving patterns and behaviors (such as time of day driven, braking patterns, and mileage) to offer rewards (Bonus Miles) and calculate premiums. The black box also enables the company to locate the car if stolen and automatically contact emergency services if an accident has occurred.

Its auto insurance policy is structured for miles driven and is offered under three packages: 6,000, 8,000, or 10,000 miles. Customers can also top up miles by 250, 500, 1,000, or 2,000 miles if required. Furthermore, the company rewards safe drivers each month by providing up to 100 additional miles (Bonus Miles), and it claims most drivers earn 60 Bonus Miles per month. The company also claims most of its customer renewing insurance policies after one year were offered an average renewal discount of 31%. Customers can view their driving patterns, remaining mileage, and cost per mile and make payments and claims through ITB’s web-based portal.

ITB also has a sister brand–Drive Like a Girl, which was launched in 2013 and provides similar telematics-based auto insurance targeted at female drivers. The former is the parent of Drive Like a Girl.

Key customers and partnerships

The company’s insurance policies are underwritten by Aioi Nissay Dowa Insurance. In addition, it provides white-label solutions to Tesco Bank Box Insurance.