Good News For South Africans With Discovery Car Insurance

Discovery Insure has launched Vitality Car Rating, which the company says can boost a vehicles resale value by up to 15.

The new data-driven innovation sets a new standard for determining a vehicle's condition and value, Discovery Insure said in a press release shared with Current Affairs ZA on Monday 10 February.

Leveraging over 20 billion kilometres of driving data and insights into driver behaviour, Vitality Car Rating not only reflects the true state of a vehicle but also rewards drivers who prioritise responsible driving over the lifetime of a vehicle, it added.

The 13-year data also include the cars underwriting and accident repair claims. Good drivers are less likely to claim for vehicle breakdowns and tend to look after their cars better, minimising wear and tear, the data shows.

This means that when its time to sell, their vehicles are generally in better condition - so good driving behaviour results in a higher resale value, the company explained.

Robert Attwell , Discovery Insure CEO, added, "Applying advanced actuarial analysis to this extensive database has allowed us to gain new insights into the true condition of a vehicle, creating a fair and reliable rating mechanism that benefits everyone involved.

Discovery Insure gathers data from Vitality Drive, its driver behaviour and rewards programme that uses telematics to measure how and where a vehicle is driven.

It then analyses this data to give each vehicle a score out of 1,000 based on driver behaviours and historical vehicle repairs which impact the risk of future mechanical breakdown.

The Vitality Car Score considers three factors about a vehicle's condition and how it's been driven: accident history, driving behaviour and mileage type whether the vehicle has been frequently driven in stop-start traffic or on the open road.

Data from underwriting as well as accident and repair claims is also incorporated to calculate the Vitality Car Rating. Based on the overall score, vehicles get a rating out of five - a rating of five results in a 15 boost in resale value.