Covid-19: Disrupters pressurise motor insurers to return premium
On demand insurtechs encourage incumbents to give back premium as it is predicted providers could save £1bn as claims plummet amid lockdown.
On demand motor providers have called on incumbents to reduce premiums amid the current lockdown which is in place to diminish the spread of coronavirus.
Insurtechs Cuvva and By Miles both separately urged traditional insurers to consider changes to premium to reflect that policyholders are using their vehicles less while social distancing measures are in force.
Cuvva noted that government figures show vehicle use is down two thirds and some providers, according to sister title Insurance Post
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