Car Insurance & Zero Claims

In 2009 I was keynote speaker on an international conference about New Alternative Solutions in Handling Claims and I took the liberty to also put claims into a future perspective. With the ongoing evolution of Road Safety and Vehicle safety the number of claims and the severity will reduce.

I mentioned many examples of improved infrastructure, technical progress in various areas, Sweden’s “Vision Zero”, etc. Eventually ending with only a fraction of the current claims volume…

EU Claims Paid Motor

So far stats are supporting my predictions. For the EU since the last few years and for the US and UK already for a decade the trend is downwards.

Motor insurance in the EU means € 134bn premium (GWP, 30% of non-life insurance business) with € 97bn claims paid (source: Insurance Europe, February 2014). Zero will not happen but let’s say 60-80% claims reduction. That corresponds with € 80-110bn premium.  

If this is a roadmap for the next 10-20 years we will have some challenges to deal with. Also for related business like bodyshops. Or will replacing business come up?

About Sunfield Consultancy

“Smart Protection for Safer Living”
With a small international team we built the world's first international online fully licensed insurance company.
With a unique ICT-Platform and Smart Operations.
Successfully rolling-out to 8 countries and selling it to key players.
Now expanding to a holistic concept based on CX, IoT and Telematics.
Called InConnect

As Insurance Engineer I help companies on the road to a better future.

Company: E.J. Van Zonneveld
Commercial Register (NL-KvK): 73498351
Trade name: Sunfield Consultancy
VAT: NL073769708B01
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Director: Ewout van Zonneveld
Email: ewout@sunfieldconsultancy.com