The AA is hunting for more insurers for telematics scheme
AA Insurance will launch its telematics product next month on Confused.com.
Customers can buy the telematics insurance from the price comparison website or direct from the AA’s own website.
The insurer is also in talks to launch on another aggregator.
The scheme will be underwritten by Groupama, Markerstudy and Sabre. The telematics ‘black boxes’ will be provided by Wunelli.
The AA aims to sign up more insurers to the scheme in the coming months and also wants to have its own in-house underwriter on the panel, according to AA director Simon Douglas.
“We’ve got a fair degree of interest,” Douglas said. “The only insurers that aren’t interested are only not interested because they’ve got a specific route into the telematics market through a direct arm or another internal business they work with. Broadly, everyone is interested in telematics.”
The AA scheme would initially focus on less experienced drivers, where Douglas said the AA’s panel insurers could be most competitive on rates.
The AA wants to restrict the number of telematics policies sold to a maximum of 30,000 next year.
Click here to read our analysis of the telematics insurance market: Telematics: the state of play.
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