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Sarah Myerscough and Ageas’ Adam Beckett talk about the rapidly changing motor insurance market. With the looming ban on the sale of petrol and diesel cars by 2030, motor manufacturers are racing to expand the sale and accessibility of electric and hybrid vehicles. We must collaborate with industry experts on how to create affordable policies for customers given the differing expenses for electric vehicles. Furthermore, Adam notes that whilst traditional 12-month motor insurance policies will always remain important, there is an emerging trend towards short-term policies purchased on demand at the click of a button. Thus, brokers and insurers alike must be prepared to navigate this highly metamorphic marketplace in the coming years. |
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