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Emil, a new startup from the founders of Movinga, has launched what it claims is Germany’s first pay-per-mile car insurance that measures miles in real-time. Aimed at drivers who do less than 6,200 miles per year on average (or roughly 120 miles per week) — which we’re told accounts for 49 percent of German drivers — mileage is tracked via the Emil app and the supplied dongle that plugs into your car’s diagnostics port.
“With Emil we are building a 21st century mobility insurer,” co-founder Bastian Knutzen tells me. “We believe that insurance products that are offered today can be improved on different dimensions and want to change that by offering flexible and fair products tailored around customer needs. We have started with the German car insurance market where traditionally low mileage drivers have subsidised the higher accident risk of high-mileage drivers which has led to an unfair insurance premium distribution”.
Technology - Model - Emil - Knutzen - Emil
Digging a little more into the technology and model behind Emil, Knutzen explained that the Emil stick is an IoT device with an integrated SIM card that plugs into a vehicle’s OBD-II diagnostics port, from where mileage data is sent to the startup’s servers.
“Customers only pay a low monthly base fee and cents per mile when they actually drive,” he says, meaning that low-mileage drivers can make significant savings on their insurance premiums.
Addition - Emil
In addition, the Emil...
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