Auto Credit: Connected Auto Insurance A Growing Market

A small revolution is making its nest in the automotive world: connected car insurance! Little reminder of the facts for drivers who do not yet know this innovation.

What is connected auto insurance?

What is connected auto insurance?

Auto connected insurance is based on the principle of data exchange. Just install a box in your vehicle to collect information relating to your driving behavior. Each day your behavior will be analyzed via an application and the data collected by the insurer will allow you to be rated. Depending on this rating, you can save 30% to 50% on your insurance bill, either annually or monthly depending on auto insurance contracts.

Behave better

A bonus for good students who are therefore rewarded for their good behavior! Note that the worst drivers are not penalized. This new form of merit insurance also includes new services, such as locating your vehicle, automatic assistance calls in the event of an accident, etc.

A car loan to change vehicles

Do you want a more efficient vehicle? A car loan can be the solution to finance it. Whether it is a restricted loan or a personal loan, this financing allows you to finalize the purchase of your new car. Carry out a car loan simulation to find out your purchasing capacity, your debt ratio, your future monthly payments, etc.

Connected contracts will represent 17% of the market by 2020

Connected contracts will represent 17% of the market by 2020

Deloitte has just published a study on the European connected car insurance market. According to this document, connected insurance contracts will exceed 15 billion USD and represent 17% of the market by 2020.

New consumer habits have a lot to do with it. “ Connected objects are becoming an integral part of our daily lives. Most industries have embraced this new trend to strengthen ties with their customers. Auto insurers, faced with an increasingly competitive market, have not been outdone. Italy and the United Kingdom had led the way through telematics. The adoption of these new offers will depend on consumer acceptance, which will evolve at different speeds depending on the country, ” comments Michel de la Bellière, Financial Industry Partner and co-responsible for EMEA Insurance at Deloitte.

But the French remain rather cautious in the face of this progress due to the sharing of their data, for fear of being “flicked”. Although most insurers who offer it insist on respect for privacy and confidentiality of data…

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