In an announcement released June 5th 2007 Safeco (NYSE: SAF) reported some details of a completely new product launch with Teensurance™ powered by Safeco®.
Teensurance is a technology based product designed to offer parents a method of having a different kind of conversation with teen drivers. The new will be available to customers across the nation starting June 27, 2007.
Teensurance uses a Global Positioning Sattilite (GPS) device The Safeco Safety Beacon™ integrated with online tools to help reinforce good driving habits. Teensurance offers parents tangible assurance regarding their young drivers behavior by offering parents real-time information and notifications.
Safeco Insurance auto policy holders may register for Teensurance and given access to a secure Web portal. The Website offers parents a variety of materials and services to assist them in teaching their teenager safe driving skills. Beyond its tangible benefits, Teensurance enhances the most important parenting tool: communication. By using this safety program, parents and their teens are encouraged to enter into an ongoing dialogue about good driving habits.
The program is designed to help both parents and teenagers open conversations and the opportunity to agree on such things as:
- Speed,
- Distance,
- Location, and
- Curfew limitations.
Electronic notification is sent in real time to parents’ computers, home phones, cell phones and/or other mobile devices when any of these agreements are broken.
Teen drivers are given 24/7 roadside assistance and, if a teen locks the keys in a car that has automatic door locks the teen may use a cell phone to remotely unlock the car.
One of the best benefits is that responsible teen drivers have a way to prove to their parents they drive responsibly.
Safeco will be offering Teensurance’s online services and roadside assistance for an introductory price of $14.99 a month. The price is guaranteed for two years for Safeco customers and includes free installation of the Safety Beacon into the teen drivers car.
Safeco says, that only parents and their teen drivers will have access to the driving information gathered through the Safety Beacon. Safeco says that driver information is not available Safeco underwriters and will not be used to calculate insurance rates.
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