Matteo CARBONE: 16% of the motor insurance market in Italy is monitorized by telematics

29 September 2016 — Oleg DORONCEANU
conf_riga2016_5_micThere are 4,8 million connected cars in Italy (telematics-related box) attached to  MTPL policies, that represents 16% from the overall motor insurance market in Italy, pointed Matteo CARBONE, Principal, BAIN&Company at the 16th International Conference "Insurance & Reinsurance in the Baltics". 

This is one of the most evolved markets nowadays in what telematics is concerned -- which is not a product but a technology, noted CARBONE.

 In comparison, in USA there are 3,3 million connected cars, while in the UK 0,6 million. Also, according to a recent study made by the ANIA- The Italian Insurers Association, the telematics insurance portfolio (the cars which  have a connected box) has 20% less claims on MTPL.

Accordind to Matteo CARBONE, each market should look up to this unique approach and towards the implementation of telematics solutions - although this will take some time as markets obviously differ.

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