Broking telematics under the spotlight as motor insurers withhold or pull capacity
The broking telematics market has had a few setbacks of late with Unipol pulling capacity and Lumun pivoting to become an MGA. But as Saxon East discovers, there are positive signs on the road ahead too.
In the conservative insurance world of LinkedIn, telematics entrepreneur Richard King delivered a few hard truths for insurtechs. Last month, his post on the network set tongues wagging.
King, who founded insurtech Ticker five and half years ago, claims his business is on course to book £150m in premium this year. The firm was ‘tantalisingly close’ to profit and achieving its target loss ratios, he added.
The strategy of many insurtechs to spend wildly and have less concern for loss ratios is now
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