Individualised insurance for Older people: preserving independence and fairness while improving safety through data.

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Reaction time, vision and other faculties vital for safe control of road vehicles decline with age, leading to an increase in risk and in turn in motor insurance premiums, somewhat analogous to the other end of the scale where 17-25 year olds incur highest premiums due to their inexperience. While inexperience is generally universal for young drivers, the other end of the scale is less homogenous, with some drivers representing a significantly increased risk from 65-70 years of age while others remain equally competent well into their 90s. This results in undercharging of some policyholders and overcharging of others, but more importantly means that some individuals who are unsafe both to themselves and wider society are able to keep driving without the assistance and guidance they need to avoid harm.Key objectives of the project are to identify behaviours indicating at-risk drivers, and to operationalise these in a functioning system for the quantification of older driver risk scores based on telematics data, enabling response and handling by underwriters.