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Motor Insurance Market in UK - March 2014: New Industry Research Report

The potential of telematics-based motor insurance is not being realised. Younger motorists who could save the most by using the technology are the least interested, while the reverse is true of older drivers. Motorists’ low estimation of their own driving ability could be behind the problem, with 36% of policyholders believing that their driving is worse than average. If motorists are to habitually use telematics they need to be nudged into doing so, by being shown the benefits – making the ambiguous concept of ‘safe driving’ more tangible.

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Introduction

  • Market definitions
  • Abbreviations

Issues and Insights

  • Motorists’ lack of confidence in their driving ability is holding back telematics
  • The facts
  • The implications
  • Confusing policy documents can damage brand reputation
  • The facts
  • The implications
  • Greater transparency can lead to a more trusted relationship between motorists and insurers
  • The facts
  • The implications
  • Smartphone and tablet channels can help to boost retention rates
  • The facts
  • The implications

Find More Reports Related to Insurance Category at: http://www.researchmoz.us/insurance-market-reports-161.html

Trend Application

  • Developing telematics
  • Tailored car insurance
  • Using smartphones and tablets to improve loyalty

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