Sarah Vaughan, Director of Angelica Solutions joined industry experts on Consumer Intelligence’s webinar exploring the future of under-25 motor insurance.
The discussion covered affordability, telematics, fronting, driver behaviour and the wider challenges facing younger drivers trying to access insurance today.
One of Sarah’s key observations was that the issue is not a lack of demand from younger drivers but that the market is not fully meeting their needs.
“The issue here is not young people and their desire to want to buy insurance. The issue is that the few insurers who want to cover young drivers want to sell ‘black box’ insurance and young drivers don’t see this as a product they want to buy, or at least not one they want to stick with”.
The panel explored how insurers can better use data, behavioural insight and product innovation to improve outcomes for both customers and the industry.
Sarah also highlighted the need for a different approach to telematics;
“The first thing I think about telematics is it needs a complete rebrand.”
At Angelica Solutions, we believe the industry has a real opportunity to rethink how it engages younger drivers, creating solutions that are fairer, clearer and built around real consumer behaviour.
Watch the full webinar here:
Consumer Intelligence Webinar – Under-25 Motor Risk: Reality & Re-entry