All Things Wheels: When Basics And Innovation Meet
Insuring vehicles has always been the foundation of the insurance industry, but, with a fast changing personal and business transport landscape, innovation is constantly transforming the industry. 2020 and the national lockdown saw an acceleration in pay as you go and mileage related motor insurance initiatives.
Although there were already a few, mostly smaller startup insurtechs, using innovative mobile apps to charge for insurance on this basis, most insurers quickly started either providing general discounts or implementing mileage related premiums.
Based on the feedback from the various contributors to our motor insurance feature in this months magazine, these, mostly hastily introduced innovations, will become the order of the day in future.