Sales have gone from 180,000 in 2012 to 296,000 in 2013
Telematics motor insurance sales have increased by more than 60% in 18 months, according to research by Biba.
Sales went up from 180,000 live policies in 2012 to 296,000 in 2013. In 2009 there were only 12,000 policies sold.
The number of providers has also grown, from just two main companies, Coverbox and iKube, to more than 16.
The driving behaviour-based policies can offer savings on motor insurance of about 25%, with some young drivers saving up to £1,000.
Biba executive director Graeme Trudgill said: “The rise of the new app smart phone technology will see sales of behaviour-based products continue to increase. Biba’s new research demonstrates how young drivers are embracing technology and more and more brokers are launching products to meet the demand.”
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