Analysis

In Focus: Could telematics present a win-win for insureds and the industry as the cost of living crisis ramps up?

By 2022-08-19T15:30:00

telematics

As inflation accelerates and wages fall, the ‘risk reductions’ provided by telematics-based motor insurance could allow insurers to pass on ‘cheaper premiums’ to their customers

The UK economy is facing one of the toughest periods in recent memory. The Office for National Statistics reported in August 2022 that the Consumer Prices Index, which measures pricing inflation for consumers, had risen by 10.1% in the 12 months to July 2022 – the first time this figure had breached 10% in 40 years.

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