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Insurance boss is wrong to say telematics is not for older drivers says Penny Searles, CEO of Smartdriverclub.

Rebecca Kerr - 11th August 2017

Penny Searles, CEO of the UK’s first connected car service, Smartdriverclub, is challenging comments made this week by Hastings Direct Chief Executive Gary Hoffman, that telematics insurance will never be a hit with older drivers.[1]

 

Penny says: “It is misleading and wrong to suggest older drivers have little to gain from telematics insurance, this makes the sweeping assumption that just because you’re older, you don’t like the technology.   That fact is, older drivers are starting to get penalised by larger insurers for their age in the same way as the young, and as consequence are looking for better premiums.

 

“You also can’t compare the types of products now available to older drivers with those sold to younger, more risky motorists.  For a start, young drivers tend to have a black box fitted whereas there are simple, low cost self-installed devices suitable for older drivers which are much more convenient for the motorist and cheaper for the insurer to offer so this is reflected in the premium.   But it’s not just about offering insurance, you need to deliver a package of benefits that will appeal to the motorist and make them feel more protected on the road – services like crash notifications, theft recovery, alerts to mechanical problems are all possible with a telematics device in the car that enables connectivity.

 

“I launched Smartdriverclub with my 72 year old mum in mind as her car is so crucial to her independence, plus it gives me reassurance to know she is safe when she’s out on her own as well as the times she has the grandkids with her.   My mum is now saving 24% on her motor insurance.

 

“There are always going to be those that feel uncomfortable with being monitored but with rising insurance costs what we’re finding is that more and more motorists want to be rewarded for driving safely. The fact that we have customers ranging in age from 17 – 84 using our telematics insurance and earning up to 42% discount on their insurance is proof that if you get the proposition right, older drivers do see the value in taking this type of policy.”

 

[1] http://www.thisismoney.co.uk/money/markets/article-4775908/Black-boxes-intrusive-says-Hastings-Direct-boss.html#ixzz4pKt2S5mR

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