Premier Motorauctions selects Fleetstar-Online to take advantage of Norwich Union's unique Fleet Telematics insurance offering

  • Fleet Telematics offers the potential to gain 16 per cent rebate on insurance premiums
  • Fixed rate insurance gives Premier Motorauctions stable insurance expenditure for three-years

Cybit, the UK’s leading online telematics service provider, has announced that Premier Motorauctions Limited, the UK's largest independent car auction, has gone live with Fleet Telematics, the industry's only telematics-enabled fleet insurance product. Fleet Telematics, the result of a strategic partnership between Cybit and Norwich Union, allows Premier Motorauctions to earn up to a 16 per cent rebate on its insurance premium for each of the three years of the agreement. It also allows Premier to benefit from a fixed insurance rate, avoiding fluctuating costs.

Under the agreement, Premier Motorauctions has implemented Cybit's Fleetstar-Online Internet-based fleet and asset management solution in 19 of its vehicle transporter fleet. Norwich Union then delivers an annual telematics-based insurance premium rebate when key performance indicators are achieved. Premier also receives risk management reports that look at key elements of each vehicle's telematics records, coupled with claims information, to provide an analysis of key performance measures and help ensure best practice for running a fleet of vehicles, including compliance with safety and legal issues.

"We regard our move from another vehicle tracking supplier to Cybit as a success because investing in Fleetstar-Online has meant that we have been able to obtain valuable management information to enable us to focus on the efficiency of our vehicle
 transporter fleet," commented Paul Dyson, Transport Manager at Premier Motorauctions. "The analysis of key information, such as driving hours and time spent at customer locations, increases the visibility of how our fleet operates. This enables us to ensure best practises to take advantage of the rebates offered by the Fleet Telematics policy."

David Raw from Henderson Insurance Brokers Limited, who advised Premier Motorauctions to adopt the Fleet Telematics insurance offering, commented: "Premier Motorauctions has invested in Cybit's leading edge telematics technology and has been able to take advantage of Norwich Union's innovative Fleet Telematics policy. This guarantees a three-year fixed rate premium, enhances profit share to reflect lower claims and improves the relationship between ourselves and the client. This partnership is positive for all parties - Norwich Union benefit from a three-year policy revenue, as the broker we get a satisfied client, while Premier Motorauctions benefits from set premiums for three-years and the potential to gain a rebate each year."

"Cybit's developing partnership with Norwich Union to supply the core solution behind the Fleet Telematics offering is another example of how telematics can be integrated into an organisation's processes to unlock business benefits for forward thinking companies such as Premier Motorauctions," commented Ian Walmsley, Cybit’s Director of Partnerships. “With the modular release of Fleetstar-Online solution we’ve significantly lowered the cost of telematics for Norwich Union’s UK fleet customers, with initial entry-level costs from as little as £20 per vehicle per month.”

Under the new strategic partnership agreement, Cybit provide the core telematics technology for Norwich Union’s ‘Fleet Telematics’ solution. Qualifying fleets that install their vehicles with Cybit’s Fleetstar-Online telematics equipment - available from as little as £20 per vehicle per month - can take advantage of Norwich Union’s unique fleet insurance offering, which features:
  • fixed price insurance cover over two or three years
  • annual telematics-based insurance premium rebate when key performance indicators are achieved
  • risk management advice that looks at key elements of the telematics records, coupled with claims information to provide an analysis of key performance measures and bespoke risk management reports
  • best practice guidance on running a fleet of vehicles including compliance with safety and legal issues.

About Premier Motorauctions:
Formed in 1996, Premier Motorauctions is the UK's largest and busiest independent car auction, selling all makes and models of cars. Operating from a single state of the art car auction site - which has secure storage for 2,000 cars - in Leeds, West Yorkshire, Premier is the only car auction in the UK to hold five sales per week, including three evening sales. It has a fully owned fleet of car transporters collecting and delivering cars throughout the UK and the country's most advanced car auction preparation centre. Premier Motorauctions is the official auctioneer for DVLA personalised registrations.
For more information see: www.premiermotorauctions.co.uk

About Norwich Union:
Norwich Union is the UK’s largest insurer with a market share of around 14 per cent. With focus on insurance for individuals and small businesses, Norwich Union insures one in five households, one in seven motor vehicles and more than 800,000 businesses. Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct. Additional information is available at www.norwichunion.com
For media enquiries call 08703 66 68 68

About Henderson Insurance Brokers:
Henderson Insurance Brokers were founded in 1986 and has grown into one of the largest independently owned commercial broker in the North East. They have particular expertise in the fleet market, where they have established an excellent relationship with Norwich Union, as well as other insurers. Through Norwich Union, Henderson Insurance Brokers have developed an exclusive fleet scheme, for all types of vehicles, providing preferential rates and benefits. This enables them to deliver an unrivalled service and added value to their customers. www.hibl.co.uk

About Fleetstar-Online:
Fleetstar-Online is Cybit’s scalable Internet based telematics solution that features real time vehicle tracking, exception reporting, replay mode, customised reports, mileage information, SMS messaging and live traffic information. Fleet vehicles are fitted with a small electronic in-vehicle-unit (IVU) which is tracked by GPS in real-time and data transmitted to Cybit’s online control centre. It provides companies with a cost-effective ASP-based fleet management solution, which offers users anytime, anywhere access to the system via a standard web browser. Fleetstar-Online also features added value solutions support, with fully integrated Smartnav satellite navigation and RAC Trackstar Plus stolen vehicle recovery system functionality.

About Cybit:
Cybit is a leading Internet-based Telematics Service Provider (TSP) and supplier of fleet and asset management solutions to the business-to-business sector. Cybit’s solutions portfolio includes vehicle tracking and management, lone worker support and car pool management. Hundreds of companies across a wide range of industries already use Cybit’s online solutions to improve the management and control of their fixed and mobile assets. Additional information is available at www.cybit.co.uk

Contact information:
Andy Gray
IBA - PR for Cybit
Tel: 01780 721 433
Email: agray@iba-europe.com

Sophie Geering
Marketing Manager, Cybit
Tel: 01480 389100
Email: sgeering@cybit.co.uk