The Next Steps for Telematics Insurance
Complimentary Report from LexisNexis Risk Solutions
Triangulating government data, trade body and consumer research we look at how telematics has reduced car casualties across the whole of the UK’s young driver population.
- Compelling evidence of the social benefits of telematics
- How consumers now feel about telematics enabled insurance
- What insurers can do to change the game
Telematics helps insurers save lives. Our analysis supports this. The market of 17–19 year-old drivers, where telematics has the deepest penetration, is capped at around 1.1 million drivers. With close to a million policies in force today, there is very little room left to grow.
If insurers remain focused on providing telematics insurance to young-drivers, telematics will remain niche and the societal benefits will be capped. What are the next steps to support market growth and meet the demand for usage-based insurance.
