How to reduce ACC costs, road deaths, tax and my insurance premiums

I'm damn sure its been said before by Cactus Kate - that insurance companies have the risk expertise, so let them manage the financial costs of road accidents via insurance premiums.

Why not take it a step further and let them also cover the costs of vehicular injury and death. Split this component off from ACC cover and put it into the hands of private insurance companies. Obviously third party would need to be compulsory.
To be affordable for a 20 year old driver with a lowered Silvia, the policy would end up with conditions like ....

May only drive vehicle:

• from 1 hour after sunrise to 1 hour before sunset
• with nil blood alcohol
• with passengers who have their own 'passenger in a car driven by and under 25' insurance
• governed to less than 55 kmph
• like their Nana !

And my tax and insurance bill could drop to where it ought to be.