UK - Auto Insurers Face Disruption from Tech Companies
Saturday, 03 04 2017, Category: Insurance and Reinsurance, Country: United Kingdom
Auto insurance may be on the brink of an incursion from mobile-phone and technology companies.
Telefonica SA’s O2 unit — one of the first mobile operators in Britain to offer car insurance — expanded its product line in February to include telematics boxes, which track people’s driving habits and can lead to cheaper premiums for youngsters. That’s stoking speculation that a wave of fintech companies will push into the market and disrupt the way insurers interact with customers.
Source: Insurance Journal