Daily Insurance Industry News
Daily Insurance Industry News
Monday 21st of January 2019
December 6, 2012

Telematics insurance becomes more popular

by Richard Kilner

Story link: Telematics insurance becomes more popular

Figures from car insurance comparison website Tiger.co.uk have revealed that telematics insurance policies are becoming increasingly popular with drivers aged 24 and under.

Sales data from February to September 2012 indicates that younger drivers are increasingly opting for telematics policies, suggesting that the more affordable pricing weighs more heavily with drivers than the so-called ‘big brother’ style of the insurance.

Telematics policy sales to older drivers remains robust, with over half (60%) of such policies sold via Tiger.co.uk being bought by drivers aged 25-54.

From February to September of this year the proportion of car insurance policies sold which were telematic in nature was 14%, a rise from 12% in Q1 2011.

Andrew Goulborn, Commercial Director for Tiger.co.uk, said that telematics were growing in popularity and that the trend was expected to continue, adding that young drivers and those with low annual mileage could get good value for money from telematics insurance.

In June of this year Tiger.co.uk reported that telematics insurance sales had increased by 25%.


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