Supporting a direct insurer in entering the telematics market

The Challenge

Data indicated growth within the telematics market so a large direct insurer requested we evaluate the opportunity for a branded telematics product (as opposed to just an add-on for under 25’s only).

The Insight

Market scoping:

• Competitor footprint and positioning
• Average / top of the market premiums

Consultancy:

• Advice on the cost of product set up e.g. investment in technology, product price point, sales through the PCWs

Data provided the initial catalyst to pitch the idea to the Executive Function. Ultimately resulted in launch of their telematics product.

The Impact

Too early to measure profitability, but early volumes are above expectations.

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