Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • August 2016
08

Telematics take-up almost doubles in less than a year

Open-access content Thursday 18th August 2016 — updated 5.50pm, Wednesday 29th April 2020

The number of UK businesses which are using telematics in 2016 has almost doubled since last year, according to a new report released by RAC.

2


The RAC Telematics Report 2016 found that around two thirds (65%) of all companies surveyed now use the device in their vehicles compared to 38% in 2015.

Businesses across all sectors have increased their use with business services the highest at 70%, retail at 67% and construction take-up at 66%.

In terms of firm size, 51% of sole traders claim they are using the technology now compared to 14% last year. Some 58% of small firms with 50 staff or fewer admit to using the device compared to 25% in the previous year. Usage from companies of between, 1,000 to 5,000 employees has gone from 29% to 67%.

The most popular reasons for the use is lower fuel costs as cited by 55% of respondents, fewer accidents (43%) and a reduction in maintenance costs (31%).

The RAC's  telematics managing director Nick Walker said that businesses are now much more accepting of the technology because they recognise that the benefits outweigh previous concerns there may have been about tracking.

"We see that the world has moved on from a slight fear about telematics, the old 'Big Brother' image that is well behind us now, as people are seeing the benefits, and looking at how they can bring those benefits into their own fleets."

When asked what businesses want from the technology in the future, the most popular demand was connectivity with other business motoring services, as chosen by 58% of participants.

The second most common demand was direct reporting of faults from the device to their fleet manager or chief mechanic, so they know as soon as possible when there is a problem with a vehicle. This was cited by 50% of businesses.

"It's no longer about just keeping tabs on staff or vehicles, it's much more about managing the vehicle as an asset," Walker said.

The research is based on two samples of 500 UK businesses, in September 2015 and May 2016.

This article appeared in our August 2016 issue of The Actuary.
Click here to view this issue
Filed in
08
Topics
General Insurance

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Environmental, Social and Governance- GI Actuary

England, London
£70000 - £170000 per annum
Reference
145888

Calling All Australian Actuaries

England, London
£50000 - £120000 per annum
Reference
145887

Calling all GI Actuaries looking to move into contracting

England, London
£700 - £1000 per day
Reference
145886
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ