Trakm8’s Latest Driver Survey Reveals Rising Road‑Trip Frustrations
Trakm8, the UK’s go‑to for connected‑car data, has just dropped the results of a fresh survey that asked drivers how they shop for cars, pick insurance and feel about telematics. The numbers are a wake‑up call for everyone out there paying too much for a policy.
Cost‑Cutting on the Road (and in the Home)
- 28 % of drivers confess they can’t afford car insurance anymore because prices just keep climbing.
- Teenage drivers are hit hardest: 55 % of those under 25 are struggling to pay.
- To keep months afloat, 29 % of respondents are dialing down the heating, hoping the bonus won’t melt the bank.
- Even more drastic: 8 % are thinking about ditching one of the cars they own.
PAYD: A New Hope for Young Drivers
- Nearly a quarter – 22 % – are eyeing pay‑as‑you‑drive (PAYD) policies to keep premiums down.
- Those under 25 are especially enthusiastic: 49 % might shift gears to a PAYD plan next time they renew.
What Trakm8 Brings to the Table
Trakm8 isn’t just a data vendor; they’ve built an end‑to‑end telematics beast, think of it like a high‑tech Swiss Army knife. Their mix of a cloud‑powered PaaS platform, a smart mobile app and cutting‑edge hardware gives insurers instant deep‑dives into how people drive and what their vehicles need.
- Big data insights & AI analytics that help insurers shape policies that fit individual risk instead of blanket pricing.
- Understand habits, spot safety trends, and pinpoint vehicle health with a full portfolio of connected services.
- Deliver smile‑worthy rewards for safe driving and more accurate premiums.
Quote from the Big Kahuna
Adam Gooch, Managing Director for Insurance at Trakm8 shares his two’s‑day thoughts:
“The survey paints a clear picture – rising insurance costs are putting a real strain on drivers, especially the younger ones. With prices up an average of 46 %, it’s a prime moment for insurers to offer cheaper policies in return for driving data. PAYD or UBI can bring fairer value, smarter pricing, and the chance to reward safe habits. Our full‑suite telematics platform makes launching these products a breeze for insurers.”
Stay in the Loop
Don’t miss out on the latest updates straight to your device. Subscribe now to keep your finger on the pulse of the driving world and the insurance industry.
