By Miles launches "connected car" policy for Tesla owners

Pay-by-mile car insurance provider By Miles has launched a “connected car” insurance policy for owners of Tesla vehicles.

The new policy, developed in partnership with La Parisienne Assurances, takes information directly from Teslas and uses information about the distance driven to price insurance. In a statement, By Miles said that the policy is the “first car insurance policy in the world to take data directly from the car without any black box.”

“Electric and connected cars are the future,” said James Blackham, co-founder of By Miles. “The insurance industry needs to catch up and launch policies as smart as the cars themselves. Our policy is the first connected car insurance policy in the world, and the first to offer pay-by-mile cover without the need for any external technology like a black box or smartphone. We’re going totally tracker-less.”

“We’re delighted to be partnering with By Miles to launch the world’s first connected car insurance policy, and we’re thrilled to be launching a policy that gives Tesla owners a chance to lower the cost of their car insurance,” said Olivier Jaillon, chief enablement officer at La Parisienne. “As an industry leader in innovation, we need to stay ahead of the game and create the insurance of tomorrow. Working with By Miles to create a really impactful and transparent product that will change the insurance landscape just made sense.”

Source: Insurance Business UK