General Insurance Article - Telematics growing in interest in UK amongst consumers


 Research has revealed that more than 50% of UK drivers plan to switch to a black box insurance policy in the coming half decade.
 The UK’s young driver market specialist Intelligent Marmalade is a product from the award-winning young person’s car insurance provider Young Marmalade.
 “We have seen significant improvements in driver behaviour since the introduction of our "orange box" technology,” says Young Marmalade md Crispin Moger.
 Intelligent Marmalade allows young drivers to prove that they are good drivers but the "orange box" will intervene if they have been driving unsafely.
 “Only 3% of our young drivers have incurred increased premiums due to poor driving. It’s a successful deterrent which is definitely making Britain’s road safer”, said Moger.
 The Vision Critical study found 57% of drivers plan to switch to similar technology as Intelligent Marmalade, with their appeal attracting those looking for young driver insurance as well as older motorists.
 Nearly a fifth of all drivers polled said they were weighing up a black box policy when renewal time came around.
 The study also showed that 92% of drivers believed that ability and track record rather than age or gender should determine how much a person pays for their insurance.
 Even more motorists (97%) felt that they should be given cheaper insurance for driving well.
 Nearly two-thirds of drivers aged over 55 said they were considering a move to such a policy in the coming years.

Back to Index


Similar News to this Story

IPT receipts for 2024 to 2025 hits over GB7bn in January
According to this morning’s HMRC data, Insurance Premium Tax (“IPT”) receipts stood at £853 million in January 2025, bringing the 10-month total for t
Unlocking the potential of IFRS17 insights and opportunities
As mentioned in part one of this blog series, IFRS 17 has reshaped financial reporting for insurance contracts since its implementation on 1 January 2
Lack of expertise main barrier to AI adoption in insurance
A lack of expertise within insurance companies is the biggest challenge to implementing artificial intelligence (AI) technology. As AI has the potenti

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.