Ticker launches connected insurance for older drivers

15 years ago, connected insurance changed the game for young drivers, who were paying incredibly high premiums. The team at Ticker were instrumental in that revolution.

Now, Ticker has launched a connected insurance product specifically designed for over-65s, to help them stay safe on the road and combat the increasing cost of their insurance.

Over-65s are searching for ways to fight high premiums

From 2023 to 2024, older drivers saw a 43% increase in premiums. Having traditionally been loyal consumers, they’re now more likely to shop around and explore new options.¹

We conducted focus groups up and down the country, gaining the following insights:

• Over-65s feel they’re unfairly villainised by the media and insurers
• They’ve seen huge premium hikes despite being a very risk-averse group
• They instinctively avoid higher-risk driving, including at rush hour or after dark

As well as being attracted by a lower starting premium simply for being willing to share driving data, they’re keen to receive feedback on their driving for reassurance and delighted at the prospect of earning a reward for good driving at renewal.

I’m delighted that we’re spearheading the introduction of a specially designed product for over-65s. The focus groups taught us so much about older drivers and our data science team has also done some ground-breaking work to develop new tools to analyse their driving behaviour and its potential impact on loss ratio.

Richard King
Founder and CEO of Ticker

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. 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.

Rob Heard
Chair of the Older Drivers Forum

Ticker’s connected car insurance for over-65s

Our proposition for over-65s involved a rigorous research and development phase. Older drivers have very different markers of risk and support requirements, so safety monitoring, behavioural science and even customer service have had a from-scratch approach to meet their specific needs.

Ticker older driver insurance works with a telematics device that’s plugged into the car’s Onboard Diagnostics (OBD) port. The Ticker app gives drivers weekly feedback on their driving, keeping them on track for their good driving discount at renewal.

• Choosing to have a black box helps the customer tackle the rising cost of car insurance
• Ticker trusts that they’re a safe driver because they’re choosing to share how they drive, and provides the best quote upfront
• The renewal premium is based on how the individual drives over the year, not on the overall risk of their age group

 

¹Insurance Times

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