Driver Data Being Retained
In another move toward criminal prevention through the use of technology, the RMS have shown interest in joining the large number of government agencies that are sharing customer data. This is better known as ‘metadata’ and you’ve probably heard it used a fair bit recently. Basically it is online information that is stored when someone uses any of the government’s online platforms. The initiative is set to assist major policing agencies, such as the AFP, in gathering evidence in criminal investigations.
The new initiative seeks to find resolutions within certain industries where policy has not kept up rogue behaviour. There has already been discussions to use the information across several motor vehicle classes.
Whilst this may seem irrelevant to the general public, it could actually prove to be a big factor in gaining cheaper CTP greenslips. Generally insurers base their premiums of data they have generated from previous years, this is data related to accidents, age, area and experience. So with the RMS now collecting a large amount of data that links directly with insurers systems (look into our article about ‘Real Time’ for more information), there is a better likelihood of cheaper greenslip prices. This will be through managing the metadata that has been collected and examining the trends and changes that are occurring with motorists.
As a result of this, motorists should see more accurate CTP greenslip pricing. This has generally been a factor that has made for cheaper greenslips for the consumer. Phil Lemieux, Managing Director of Marillion Insurance Brokers, was asked for his opinion on the matter. Mr Lemieux stated “if there is a chance this data could be used to better understand consumer and motorist trends, then we can definitely see their being more chances for the consumer to find a more accurate and perhaps cheaper greenslip premium. The fact is the more information and understanding we have of an insurance product and consumer behaviour, the more accurate pricing will be.
At www.valuegreenslips.com.au, we look directly at the trends of our customers, as well as their feedback, to create an accurate and beneficial greenslip calculator. We also take into account the importance of driving history information, as we pass on further savings on cheap greenslips to those with no demerit points. Through our strong relationships with insurers, we understand what influential factors are a part of finding a cheap greenslip and we make sure that these are included in our quoting calculator.
So if your CTP greenslip is up for renewal and you’re looking for a cheap quote, jump online now and see for yourself how simple and accurate our calculator is. If you require any further information, please don’t hesitate to call on 02 8999 1091.