Telematics insurance rockets by 61%

Friday, January 24, 2014 - 14:00
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ROCKET: Big boost for telematics insurance

Telematics motor insurance sales have increased by 61% since June 2012, research from the British Insurance Brokers’ Association (BIBA) has shown.

BIBA claim the huge behaviour-based policy increase, of 116,000, demonstrates drivers taking advantage of savings of around 25%.

The technology works by recording journeys or driving behaviour so that premiums can be accurately applied to a driver’s exact risk profile.

Graeme Trudgill, Executive Director of BIBA, said: “The rise of the new app smart phone technology will see sales of behaviour-based products continue to increase.

“BIBA’s new research demonstrates how young drivers are embracing technology and more and more brokers are launching products to meet the demand.”

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