Metromile

 

It’s a US based service only at the moment – but in what I thought was an interesting development a company has created a small device that plugs into the diagnostic port on your car (apparently a feature of any car built since 1996, located under the steering wheel).

It can then give you all sorts of stats using GPS technology about your fuel efficiency, but one of the more interesting options is to pay for your car insurance by distance, rather than just an annual fee. Their argument is that this will save most people who drive under around 13,000 kilometres per year (they use 8,000 miles, so I have rounded a little), because they are usually subsidising the cost of drivers who do a lot more distance.

Certainly the rise of low-cost and reliable measurement via technology is going to change the way we pay for many goods and services in the future!