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Share of telematics motor insurance quotes in Great Britain 2020, by age group

Among the five cheapest motor insurance quotes, the two of three quotes offered to drivers aged 25 and under were by telematic brands. Overall, for all drivers, the proportion of the cheapest five motor insurance quotes provided by telematics was 20 percent. In insurance, telematics is used to collect real time data on a driver's behavior and improve motor insurance underwriting by making it more precise. Insurance companies target telematics predominantly towards younger drivers on the premise that they are more inexperienced and thus have a higher risk of causing or suffering an accident.

Share of the cheapest five motor insurance quotes provided by telematic brands in Great Britain as of February 2020, by age group

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Source

Release date

March 2020

Region

United Kingdom (Great Britain)

Survey time period

February 2020

Special properties

cheapest five motor insurance quotes.

Supplementary notes

The source adds the following information: "For each risk common to consecutive months, the variation is calculated from the average of the Top 5 cheapest premiums returned across the PCWs and key directs in the previous month to the average of the Top 5 in the current month (regardless of which brands provided these quotes).

The Overall Market Top 5 monthly variation is calculated by averaging across all these risk level Top 5 variations for common risks run in both months.

The monthly figures are concatenated up to produce the trended price index from a starting point of 100% in the base month."

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Statistics on "Motor insurance in the UK"

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