Digitally-enabled car insurance policies in Europe could be worth €15bn ($16bn) by last year, suggests research from consultancy Deloitte. The research also reveals 50% of car insurance customers would share their driving data in return for additional services, while 20% more customers are willing to switch their insurance policy compared to 2020. As demand for digital car insurance grows, insurers have more opportunities to offer digitally-enabled services such as automatic emergency assistance or theft recovery to gain the edge on their competitors, says James Rakow, insurance partner at Deloitte.
Digitally-enabled car insurance policies in Europe could be worth €15bn ($16bn) by 2020, suggests research from consultancy Deloitte. The research also reveals 50% of car insurance customers would share their driving data in return for additional services, while 20% more customers are willing to switch their insurance policy compared to last year. As demand for digital car insurance grows, insurers have more opportunities to offer digitally-enabled services such as automatic emergency assistance or theft recovery to gain the edge on their competitors, says James Rakow, insurance partner at Deloitte.