information

We use cookies to give you the best possible experience online. By continuing to use our website, you agree to receiving our cookies on your web browser. Visit our cookie policy page to find out more and how to change your cookie settings.

skip to main content

Catch up with the latest press releases from LV=

Large green heart

New LV= app helps drivers save up to 15% on insurance

Press release: 30/03/2015

LV= is launching a new smartphone telematics app to help good drivers save money on their car insurance premiums. The LV= Driving app is free to download and can be used with iPhone and Android smartphones.

LV= Driving uses the smartphone’s Global Positioning System (GPS) to track journeys and assess driving style, such as speed, acceleration and braking. The app offers the user feedback at the end of each journey so that they can see how well they have driven.

After the driver has completed 200 miles over the course of at least ten journeys, LV= Driving will show whether they qualify for a discount on their new online car insurance quote. Drivers are guaranteed £10 off just for participating and depending on their driving performance; they may qualify for an additional discount of up to 15%. For a young driver who would typically be quoted a premium of around £1,000[1] , they could save up to £150 by using the app.

Once the driver has completed the minimum driving required, they can either get an online quote and purchase a policy straightaway or at a later date. The app can be downloaded via the App Store or GooglePlay and LV= has created a video to demonstrate how the app works, which can be viewed online at LV.com/LVdriving. The LV= Driving offer is not available on price comparison websites.

Good drivers are less likely to have an accident and that should be reflected through cheaper car insurance premiums. The LV= Driving app allows us to quickly assess driving ability and reward those who drive safely by offering them a discount. Even those who don’t qualify for a discount will still get feedback on their driving and enjoy £10 off their car insurance quote, so it is worth giving it a try.

John O’Roarke, Managing Director of LV= car insurance

Key features of the LV= Driving app:

  • Auto-start functionality - allows the user to drive without the need to manually record each journey.
  • Push notifications – so ‘auto-start’ users may tell us if they weren’t the driver for a specific journey.
  • Journey feedback – shows the route travelled and provides speed and smoothness ratings.
  • Low battery usage – the app is optimised to use the least amount of battery possible. The app automatically stops recording when battery life is low.
  • User guide – a step-by-step guide and video on how the app works.

Share with...

What are these?

  1. Google +1

[1] Based on a 21-year old motorist driving a Ford Fiesta.


For further information please contact:

Vanessa Chance, vanessa.chance@lv.com, 0208 256 6996 / 07947 380074


LV=

LV= employs 6,000 people and serves over 5.5 million customers with a range of financial products. We are the UK's largest friendly society and a leading financial mutual.

When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and a range of trade unions.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.