An app and website which aims to monitor an individual's driving performance is the latest move in tackling the problem of excessive insurance premiums for new drivers.
Woop says it will use TomTom GPS technology to provide policyholders with a rundown of their driving performance in a bid to reduce accidents and therefore claims in its young driver insurance.
"More than half a million drivers aged 17 to 24 pass their test each year but around one in five will have a crash within six months, causing the price of insurance to rocket," said David Hayward, managing director of Woop. "Woop young driver insurance aims to provide a solution to both problems, making premiums affordable, while taking an innovative approach to improving safety on Britain's roads. Unrestricted by curfews or mileage limits, drivers have the freedom to enjoy their time on the road, while parents are given peace of mind that safe driving will always be a priority."
However, it is unclear by how much premiums will be reduced and any discounts will only be available at renewal time, meaning the driver will have already taken a hit in the meantime.
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