The motor insurer, which focuses exclusively on young drivers aged 25 and below and installs black box telematics technology into policyholders' vehicles, in announced the deal with RED on 22 August, which is thought to be the first of its kind.
According to ingenie, the deal will mean that the average 17 year-old customer could save around £100 on their annual premium.
Using its telematics technology, ingenie assesses the speed, cornering, braking and acceleration of its customers which helps it review its price every three months. The best drivers can receive a further discount of up to 10% in the first year if their driving is deemed to be sensible and safe. According to the company, 70% of ingenie drivers have received a discount for good driving.
Richard King, founder and CEO at ingenie said that two companies were coming together to help young drivers get on the road for less, and to do it safely.
“In that spirit we are delighted to be able to further incentivise our customers with this discount, because we’re seeing that RED learners are generally safer than other new drivers,” he said.
“Getting on the road can be hugely expensive when you’re young, so giving a significant insurance discount for RED-trained drivers will make a big difference to our customers. This is, of course, the first of a number of discounts our customers could earn – including quarterly discounts for good driving, and renewal prices which are on average half the customer’s starting price.”