More Women Move To Telematics

The implementation of the EU Gender Directive has caused difficulty for many young female drivers affording rising car insurance costs. Tiger.co.uk, one of the UK’s leading car insurance comparison sites, has reported a 43% surge in the sales of Telematics or “Pay as you drive” policies to female motorists. Telematics Sales Increase For Female Motorists Despite a general drop in car insurance prices year-on-year, current reports show that young female motorists are finding themselves subject to huge increases in premiums when they come to buy traditional car insurance due to the recent EU Gender Directive. As a result of this, Tiger.co.uk is reporting a significant increase in the sales of telematics car insurance policies to female motorists. Sales figures from Tiger.co.uk for the first quarter of 2013 indicate that there has been a 43% rise in sales of telematics to women drivers compared with the same period in 2012, more than four times the rise in telematics sales to male drivers. Telematics insurance policies are growing in popularity - currently more than one in seven policies sold through Tiger.co.uk in 2013 are telematics policies and that figure is predicted to grow as the year progresses. Telematics policies, often known as “pay as you drive” or “black box” insurance policies, tend to be aimed at younger drivers and involve a tracker being installed in the car to record a motorist’s driving behaviours. The data which the tracker records varies from insurer to insurer but it could include how many miles are driven; how fast the motorist drives; and at what time of day. With this data, the insurer will then adjust how much the driver will have to pay for insurance based on the performance of the driver. Driving carefully is rewarded in various ways but more dangerous driving can result in increased premiums. Because of this, telematics car insurance can be a more affordable alternative for younger drivers than standard car insurance, but as evidenced by figures published by Tiger.co.uk earlier this year, these products are increasingly popular with all age groups. Andrew Goulborn Commercial Director at Tiger.co.uk commented on the latest figures: “We’re very pleased to see an increase in telematics sales to female drivers. This shows that in the face of the pricing increases for younger female drivers that are the result of the EU Gender Directive, more young women are out to definitively prove that they are safer drivers. They understand that the use of this new technology in insurance could save them money. Tiger.co.uk currently has eleven telematics insurers on its panel – more than any other comparison site - some of which have a particular focus on women’s car insurance. As a result we hope to see more and more telematics sales in the latter part of the year.”
10/05/2013 11:38:34 Eren
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