Markerstudy Buys UK 'Black-Box' Insurance Provider
Law360, London (July 10, 2019, 6:01 PM BST) -- Insurer Markerstudy is tapping into the growing market of younger drivers by buying a "black-box" insurance firm that rewards careful policyholders with lower premiums based upon their driving ability.
Markerstudy Group of Cos. bought U.K.-based Smart Driver Club Insurance for an undisclosed sum, the companies confirmed Wednesday.
The insurance arm of Smart Driver Club Group, the company sells policies tailored to individual drivers based upon telematics, or devices used to pinpoint a car's location. Insurers like Smart Drive Club fit black-box devices in vehicles to monitor how drivers act, and then charge them based upon the way they drive.
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