Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

BetterDrive – CosmosDirekt’s telematics motor insurance tariff designed specifically for younger drivers


In Action Summary

BetterDrive is a telematics-based motor insurance tariff offered by German insurer CosmosDirekt, that is designed specifically for young drivers up to 28 years of age.

The core of this initiative is the MyDrive smartphone app which records rides using GPS data in addition to gyroscope and accelerometer readings. The app tracks the speed, acceleration, curve and braking behaviour of users before aggregating these results into an individual risk profiling score. This score is measured between 0 and 100 points and is a result of the deviation from the optimum driving mode on the respective road and current traffic conditions. No dongle nor additional hardware is required as MyDrive is designed to operate autonomously.

In principle, the better the individual score, the lower the corresponding premium will be. The premium can be reduced up to 30% through prudent and measured driving.

With the BetterDrive tariff from CosmosDirekt, premiums can be reduced up to 30% through safe driving

Although better drive imposes a minimum of 400km travelled across 10 journeys in order to qualify for premium reduction, participants can decide for themselves which journeys they record. The online application process consists of measuring 5 key risk assessments and can be concluded in minutes on a smartphone. Its important to note that the telematics data aggregated by MyDrive and the individuals data are stored separately.The insurer does not have access to the data of the app.

Ultimately, this initiative by CosmosDireckt (a subsidiary of Generali) is designed to compete with similar offerings from Allianz in Germany. Although most auto insurers are working on telematics offerings, the overarching theme of autonomous driving is a constant presence within this space.

Reported Benefits

Benefit to Customers

  • Lower premium based on distance, speed and route data analysis.
  • Feedback on driving behavior.

Benefit to the Insurer

  • Higher Engagement Rate with consumers
  • Higher Renewal Rate as customers are more inclined to renew their policy and continue to avail of their telematics based premium.
  • Higher brand loyalty and recognition.

The Digital Insurer's View

The BetterDrive tariff by CosmosDirekt is an interesting example of an auto insurer that is willing to deploy a smartphone telematics solution to the young driver segment. Although most auto insurers prefer to focus on the more experienced (and thus more profitable) middle aged segment, CosmosDirekt will likely benefit from offering a smartphone based solution to the age demographic that already rely on mobile devices heavily.



Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in