Gary Lineker is tackling car insurance

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Gary Lineker is backing a new car insurance start-up aimed at offering young motorists lower premiums while improving their driving.

The ex-England footballer turned broadcaster has teamed up with insurance industry stalwarts and British Airways (Other OTC: BABWF.PK - news) chairman Sir Martin Broughton, to support the new ingenie insurance brand.

Operating online, ingenie is targeting drivers in the 17 to 25 age bracket, who have been priced off the road. Annual premiums average £2,431 for 17 to 22 year olds.

To encourage better driving, ingenie fits insured drivers’ cars with a black box telematics system that relays updates to their mobile phones on their motoring habits. Premiums are adjusted quarterly according to how safely they drive.

Father-of-four Mr Lineker said: “What ingenie is offering is a real alternative to sky-high premiums, based on the concept that the better you drive, the less you end up paying.” Another backer is former managing director of RSA Insurance (Other OTC: RSANF.PK - news) , Steve Broughton, the brother of the BA chairman.

Former Direct Line director Chris McKee and Innovation Group (Munich: 939154 - news) co-founder Richard King head the executive team. Development costs to date run to £3.5m.