Smart devices, smartphones, and smart cars are converging to create what should be a smart insurance choice for safe drivers and their insurers: usage-based insurance (UBI). The policy option is a win-win for the insured and the insurer: Customers pay lower premiums and improve their driving while insurers attract safer and lower-risk drivers. Customers and insurers alike are interested in usage-based car insurance. Yet usage-based car insurance markets remain small and have yet to take off.
What's behind the gap between interest and purchase? For starters, consumers are uncertain about whether the coverage is really a better deal; they're wary about how privacy will be protected; and they just distrust insurance companies. The implications? Insurers have to address these obstacles to drive sales and create a loyal customer base among the safest drivers.
This Webinar examines consumer interest in the coverage across the US, Canada, and Europe, and the key actions that digital insurance strategists can take to improve their sales of telematics insurance.
Agenda:
- What do consumers think about usage-based insurance?
- How good a job are digital insurance teams doing when it comes to selling the coverage?
- What are the types of digital strategies being undertaken to drive interest and purchase of UBI?
- What are the key things that digital insurance strategists must do to increase interest and sales of usage-based insurance?
Key takeaways:
- Usage-based car insurance has the potential to transform the car insurance industry, but despite interest in the coverage, consumers aren't buying usage-based car insurance.
- There are many obstacles to widespread adoption of usage-based insurance such as uncertainty about how pricing compares with traditional insurance, concerns about their privacy, and even distrust of insurers.
- Digital insurance executives must take action now and do more to promote UBI and educate customers.
You'll receive an email with dialing and Webex instructions prior to the Webinar.