Protect insureds and seize the telematics market opportunity

In recent years, the growing field of telematics has been at the forefront of a collective response to address the motor casualty rates especially among young drivers. Recent research has also confirmed in a bid to fight dangers while driving, collisions, and fatality rates that telematics is here to stay.

Whilst inexperience and speed are factors to take into consideration in these rates, distracted driving through in-vehicular phone usage is a growing problem for not only young people but all age demographics.  The IAM RoadSmart Driving Safety Culture Survey 2019 cites that 70% of UK motorists believe this is a bigger problem than the previous year.

This graph below confirms that telematics has had a positive impact on the casualty rates of young people, an encouraging prediction for more mature drivers.

Source: Lexus Nexus

Our smartphone-based solution Loop protects people, not just cars and Bluesona’s connected technology is founded upon an ideological shift from repair to prevention. We take aim at distracted driving, the number one cause of road accidents. we encourage habitual attentiveness and a change in road behaviour for the safety of everyone.

Insurers can observe vehicles in real-time to track journeys, monitor road behaviour and understand how drivers use their vehicles with our LoopMatics telematics solution.

The Global Telematics Solutions Market Analysis Report 2020 states that the global telematics solutions market is expected to reach £62.03 billion by 2026 growing at a CAGR of 16.9% from 2018 to 2026.

With 31.9 million licenced cars on the road in GB, 1.1 million in Northern Ireland and 2 million in Ireland there is a huge opportunity for the insurance industry to develop prepositions to take advantage of this cutting-edge telematics technology.

Insurers can capitalise on our powerful LoopMatics technology to connect with their clients, offer a solution to provide a proactive, preventative approach and make a real difference to the lives of their insureds.

Find out more about LoopMatics 

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