Spotlight: Motor data: Taking today's customers into the fast lane

fast-lane

Having grown up in the internet age, Millennials have very different expectations to previous generations. Young people are getting into the driver’s seat and motor insurers need to understand how to build a relationship with them

As well as expecting to be able to buy insurance online quickly and easily, Millennials are much more likely to share their views online. Getting it wrong can cost an insurer its reputation.

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Lack of trust in telematics hampering potential

After a survey found only 8% of respondents had received any communication from insurers about adopting telematics-based insurance to help reduce premiums, Fairer Finance’s James Daley said “telematics still doesn’t seem to be fulfilling its potential”.

Q&A: Simon Axon, Teradata

Simon Axon, global financial services industry director at Teradata, explains how general insurance providers are lagging behind banks in making the most of their data and why Amazon’s style of operating should inspire boards to back investment in digital transformation.

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