Suncorp has taken its first tentative steps into the telematics market, funding a University of Sydney study into the public acceptance of GPS vehicle tracking systems. 

A spokesman has confirmed to insuranceNEWS.com.au that Suncorp has helped fund the study, “Exploring Behavioural Responses of Motorists to Exposure-Based Charging Mechanisms”, but says no plans for a product launch have been developed.

The study is based on the use of GPS systems which can log individual drivers’ behaviour and whether incentives such as financial rewards or premium discounts could promote safer practices.

“It is a concept we think has potential for the future,” the spokesman told insuranceNEWS.com.au. 

An article in Insurance News (the magazine) in April first noted the role of Suncorp in the rise of telematics in Australia.

Telematics, or pay-how-you-drive technology, has been used to underwrite motor risks in major overseas markets for several years, with US insurer Progressive and the UK’s Aviva among its leading proponents.

Aviva first developed its telematics program when current Suncorp Group CEO Patrick Snowball was running its UK division.