Wirelessly recording driving data, flexible premiums and driverless autos. That’s the potential of the motor insurance coverage business, according to a new report by the software supplier The Innovation Group.
Telematics, or black boxes, will be fitted to far more autos, and pay out-as-you-drive cover will arrive within the up coming decade. The research located 74 per cent of drivers would match a black box if it cut premiums. Presently, the tech accounts for only 1 per cent of policies.
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The report says the older generation is most receptive to utilizing telematics, with 83 per cent of in excess of-65s in favour against only 61 per cent of 18 to 24-12 months-olds. This is regardless of the technique currently being aimed at cutting fees for younger drivers.
Car Express not too long ago revealed how the number of telematics policies had risen substantially since their 2009 launch, in spite of not usually getting the least expensive choice. The report identified drivers will also demand more insurance coverage cover flexibility, and firms will introduce a lot more shell out-as-you-drive and month-to-month policies above the up coming 10 years.
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But motorists are not so keen on driverless autos. Only 6 per cent had been happy to buy a car that handed in excess of handle to an automated set-up.
What do you feel about the developing use of telematics in our autos? Is it okay if it lowers the cost of car insurance or is this another case of the surveillance society taking over? Inform us on Twitter, on Facebook or join the debate in the remarks part beneath…