Towers Watson warns insurers over 'pay as you drive' telematics products
A survey of European drivers has revealed that 50% of UK drivers would be interested in taking out a telematics policy.
According to Telematics: what European consumers say, published by Towers Watson, this figure would rise to 57% if there was a guarantee that the premium would not increase.
However, Towers Watson cautioned that “insurers will be limiting their market by focusing on ‘pay as you drive’ type products”, on the basis that consumers who drive more frequently are more interested in telematics.
UK drivers using motorways “very frequently” are most open to using telematics products, with 68% indicating
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