Consumers are more interested in
Nationwide commissioned the survey, which was conducted online from June to July, from Edelman Data & Intelligence with responses from a sample of 400 U.S. independent insurance agents and 1,000 consumers to gauge interest in telematics technology. Respondents suggested the top concern for them was the rising cost of insurance and safety on the roads. Telematics could be the solution to both.
For consumers who are currently using telematics, 78% participate in the program to save money on auto insurance and 38% participate to
“It’s no secret that some motorists picked up bad driving habits during the pandemic. Combine that with the hustle and bustle of the holiday season and we could see a lot of Scrooges on America’s roadways,” said
Yet the survey found that only 45% of agents offer telematics to a quarter or fewer of customers, agents who responded to the survey suggested that a lack of purchase intent was the main reason for not offering it.
Agents are reportedly becoming more comfortable with telematics. Six in 10 feel knowledgeable about the different types of telematics programs. However, only about 58% of consumers suggest they’ve discussed telematics with their agent and only 49% of agents said they have discussed programs that reward safe driving and measure driving behavior using an app or device.
“Sometimes customers or agents may feel that they are not a good fit for telematics if they do not consider themselves to be safe or low-mileage drivers,” Jacobs said. “There is a huge opportunity for agents to help their clients understand their usage-based options, and we believe this will give them an advantage in meeting customer needs.”