Historically, the European insurance telematics market existed mainly in countries plagued with insurance fraud, car theft and high insurance costs. But experts say all that is about to change. In the second of a two-part series, Brendan McNally reports on what is expected to happen.
France and Germany
Until now, neither France nor Germany has shown much interest in UBI. Auto insurance costs are relatively low and so are incidents of insurance fraud and car theft. As useful as such systems have proven themselves to be in the Italian and British markets, they are nevertheless expensive to operate and, with insurance rates already low, there isn’t much to drive them.
Industry insight: Insurance telematics
Insurance Telematics Europe 2014