Ticker launches telematics policy for older drivers

Telematics insurtech Ticker has launched a connected motor insurance product for drivers over the age of 65.

The new product uses a telematics device in conjunction with Ticker’s existing app. It aims to reduce premiums for this demographic, while also helping them to stay safe while driving. 

For example, older drivers saw an increase of 43% in their car insurance premiums between 2023 and 2024, according to figures from Quotezone published in April 2024.

This data showed that the average price of cover for over 65s stood at £478.79 in January 2024, up from the £334 recorded at the start of 2023.

Richard King, founder and chief executive at Ticker, told Insurance Times: “The founding team at Ticker helped to introduce connected car insurance into the UK over the last 15 years. I’m delighted that we’re spearheading the introduction of a specially designed product for over 65s.”

“Our data science team has also done some groundbreaking work to develop new tools to analyse their driving behaviour and its potential impact on loss ratio.”

Focus group feedback

Ticker conducted focus groups across the UK prior to launching its new product. Taking place between February and July 2024, these sessions sought feedback from 100 older drivers via group and one-to-one interviews.

Feedback from these focus groups found that participants aged over 65 feel unfairly villainised by the media and insurers. Most had also experienced huge premium hikes and preferred to avoid high risk driving, such as after dark.

King added: “The focus groups taught us so much about older drivers – how to engage them, how to incentivise them and how they would like to receive feedback on their driving.”

Rob Heard, chair at not-for-profit organisation the Older Drivers Forum, added: “Many drivers find the cost of car insurance is rocketing purely because of their age. Even with an excellent, safe driving career, they’re now being penalised.

“The Older Drivers Forum regularly receives emails from concerned mature drivers on what they can do to reduce premiums. We are very happy to see the launch of a new product that deals with the driver as an individual, taking into account their driving behaviour and rewarding them with lower premiums.”