Taxicab telematics: "black boxes" that monitor pre-crash speed and accident factors may be coming soon to New York City cabs. Insurance companies are also exploring the possibility of installing them in consumers' cars. IBM is developing the devices, and estimated price tag is around few hundred dollars apiece.
Closely held American Transit Insurance Co., New York, which insures 80% of the taxis and limousines in the Big Apple, said the devices will be installed late this summer. The company plans to offer $300 insurance discounts to induce owners of as many as 1,500 cabs to take part….Wednesday, IBM and Norwich Union, a car-insurance unit of Britain's Aviva PLC, announced plans to put black boxes in 5,000 volunteers' cars. The aim is to see whether people who drive less should get lower insurance rates. That program could raise invasion-of-privacy issues, because it keep tabs on when, where and how much the cars are driven.
Link to WSJ story (subscription required), Discuss
