Groupe PSA Becomes a Major Player in Connected Car Insurance

Business Wire

A pioneer in connected vehicles, Groupe PSA uses on-board technology to enable an innovative insurance option that works remotely.
With its Connected Insurance option, PSA Assurance motivates policyholders to drive responsibly by offering premium discounts.

VÉLIZY-VILLACOUBLAY, France--(BUSINESS WIRE)-- Regulatory News:

Groupe PSA (Paris:UG):

Offered with each car purchase, this PSA Assurance contract option rewards policyholders for responsible driving behavior and allows them to benefit from a discount on the standard insurance premium, effective on sign up.

The user’s individual driving score is calculated automatically and has a direct influence on the insurance premium, resulting in an overall discount that can represent up to 25% from the second year. Policyholders are informed of their score on a monthly basis and provided with advice aimed at improving their driving behavior and maximizing their discount.

Driving data is collected remotely through a physical on-board device that includes an emergency and local assistance call function. Launched back in 2003 by Groupe PSA, this device is currently fitted to more than five million of the Group’s vehicles.

Personal data integrity, safety and security are protected in compliance with the General Data Protection Regulation and a corresponding disclosure is reported to the CNIL, France’s data protection authority.

The insurance policies distributed by PSA Finance France are offered to French customers of new and used eligible cars from the Peugeot, Citroën and DS Automobiles brands. 86,000 customers have already signed up for a policy, with 12,000 of them choosing the connected insurance option.

About Groupe PSA

Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia..

Media library: medialibrary.groupe-psa.com / @GroupePSA_EN

Legal notice

PSA Assurance is a registered trademark of PSA Automobiles SA, a French société anonyme (joint stock company) with share capital of €300,176,800 registered with the Versailles Trade and Companies Register (RCS) under no. 542 065 479 and with its registered office at 2 Boulevard de l’Europe, 78300 Poissy. The trademark is operated by Crédipar SA, a French société anonyme with share capital of €138,517,008 registered with the Nanterre Trade and Companies Register under no. 317 452 981 and with its registered office at 9 rue Henri Barbusse, 92230 Gennevilliers – ORIAS insurance intermediary no. 07004921 (www.orias.fr). Guarantees are underwritten by AXA France IARD, SA, a French société anonyme with share capital of €214,799,030 registered with the Nanterre Trade and Companies Register under no. 722 057 460, and by AXA Assurances IARD Mutuelle (SIREN no. 775 699 309), both French sociétés d’assurance mutuelle (mutual insurers) governed by the French insurance code (Code des assurances), acting as coinsurers and with joint and several liability for each other’s debts, and with their registered office at 313 Terrasses de l’Arche, 92000 Nanterre.