Technological advances are moving fast
Motor insurance is a valuable resource that protects millions of motorists throughout Europe. Consequently, it is frequently the focus of policymakers.
The fact that the pricing of motor insurance differs between member states is often misinterpreted as a shortcoming of the single EU market. Insurance Europe engages with policymakers to reiterate the many different factors that affect the pricing of insurance policies. These include the volume and type of claims made in a particular country, as well as country-specific features that affect risk, such as the cost of medical treatment for people injured in accidents.
Meanwhile technological advances provide not only opportunities for innovation, but also ways to make road transport safer, cleaner and more efficient. For example, intelligent transport systems and telematics devices — the technology that makes vehicle-to-vehicle communications and traffic infrastructure-to-vehicle communication possible, are changing the way we travel.
Insurance Europe is supportive of innovations such as eCall, the in-car emergency system that automatically alerts emergency services in the case of an accident. It is clear, however, that such new technologies must be standardised and open-access be provided to them to ensure consumer choice and fair competition.