General Insurance Article - Survey reveals motorists in the dark on Telematics benefits

A survey conducted by Redtail Telematics, the long-established provider of integrated telematics solutions worldwide for the insurance and fleet sectors and YouGov has revealed that with the popularity of telematics-based motor-insurance policies at a record high in the UK, some car owners remain in the dark regarding the savings and benefits delivered by telematics.

 Redtail Telematics commissioned the research in partnership with YouGov, whereby 1,500 UK drivers were surveyed regarding their attitudes to using telematics-based insurance policies which coincides with a recent survey by BIBA (British Insurance Brokers’ Association) which revealed that there are nearly one million telematics policies live in the UK - an increase by almost 30 per cent on the 2016 figure.
 Obtaining cheaper car insurance, being incentivised financially to drive safely and have improved awareness of their driving style were considered three of the incentives for choosing telematics-based insurance policies by those surveyed.
 However, the insurance sector still has work to do concerning convincing UK drivers of the benefits delivered by telematics. Nearly 30% of those surveyed stated that they could think of no reasons to change from traditional motor insurance policies, citing the cost of installing the telematics device as a factor (42%), while 38% of respondents believing that using telematics can potentially increase the cost of motor insurance.
 Commenting on the Redtail Telematics/YouGov research, Redtail Telematics CEO, Dr Colin Smithers said: “The benefits of using telematics for motor insurance purposes are widely documented and are reinforced by the recent BIBA figures highlighting continued growth and popularity of telematics-based motor insurance amongst consumers. However, as our research highlights, there is still a process of education that needs to be undertaken by the insurance industry to convince the 30% of those surveyed who see no incentive to switch to using telematics”.

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