While discount car insurance for young drivers remains nearly impossible to find, the Association of British Insurers has recently stated that it remains committed to improving access to travel and motor car insurance for older customers in the UK, sources say.
Otto Thoresen, the director general of the ABI, gave a recent speech at the Age UK conference where he made the announcement that any ABI member that chooses not to provide cover due to age restrictions will be obligated to ‘signpost’ these older customers to an appropriate alternative insurer who will then make an offer without regard to the customer’s age. As the British population continues to age, commented Mr Thoresen, it has become key to provide reasonable car insurance rates and other financial services to older customers, and the new agreement will go into effect this coming April in order to increase this access.
Transparency within the ABI will also be increased, added the director general, and will be accomplished by the publication of aggregated claims data on an annual basis. This will provide consumers with the confidence that age has relevance in regards to risk assessment for both travel insurance and motor insurance.
The ABI has plans to also work together with its members to research the best methods to keep lines of communication open with older customers, especially in situations where there are specific needs in regards to sight or hearing difficulties. Alternatives to web-based communications are being discussed, as while the ABI found that 41 per cent of motorists in their late 60s are comfortable with using the internet, this figure drops to only one out out of every four customers over the age of 75.