Insurers do not promote the benefits of telematics insurance!
Recently, Redtail Telematics/YouGov conducted a survey on consumer perspectives on car insurance. Interestingly, the results revealed that insurers do not promote the savings and benefits of telematics-based motor insurance to their customers.
- In fact, only 4% of respondents have received any communication from their insurer to discuss a telematics-based insurance policy
- Furthermore, insurers had not told 76% of respondents the benefits of telematics-based motor insurance
- On average, drivers saved around £300 a year when they switched to By Miles
Survey reveals insurers are missing opportunities to win new telematics customers
In fact, only 4% of respondents received communication from insurers to promote telematics-based insurance. In particular, insurers did not inform customers of reduced premium opportunities.
Could comparison websites be part of the problem?
Unfortunately, comparison websites are part of the problem because they lack transparency. Consequently, insurers find it difficult to promote telematics policies on comparison websites. Consumer interest in telematics-based insurance continues to rise. More than ever, motorists recognise the savings of telematics-supported motor insurance policies.