Motor insurance

Europe's most widely purchased P&C insurance line

Motor premiums accounted for 36% of all property and casualty insurance in Europe in 2020 and totalled €149bn.

Review of the EU Motor Insurance Directive

While the revision of the EU Motor Insurance Directive concluded in December 2021, there are two issues that require follow-up work: the question of the protection afforded should a driver’s insurer become insolvent, notably in cross-border cases, and some technical aspects of the standardised claims-history statement, a document that insurers have to provide to policyholders on request.

As regards the former, the Council of Bureaux is currently drafting insolvency agreements, which will then be submitted to the European Commission. As for the latter, Insurance Europe is keen to engage with EU policymakers to ensure that the future claims-history statement is a practical tool that provides real benefits to consumers without placing an undue burden on insurers.

Technological advances are moving fast

New technologies offer the potential to create innovative services for consumers and to make road transport safer, cleaner and more efficient. Indeed, connected and automated vehicles, intelligent transport systems and telematics are already changing the way we travel. To foster consumer choice and fair competition, it is essential that all service providers in the automotive value-chain can access the wealth of data generated by these new technologies. Insurance Europe calls on EU policymakers to take legislative action to ensure that drivers remain in control of their vehicle data.

Today’s vehicles already generate a lot of data. That will only increase as they become more connected and ― eventually ― automated. But who controls that data? Currently, it is the vehicle manufacturers. This prevents drivers from sharing their data with third parties who could provide services to them.

Insurers, however, take the view that drivers should control their vehicle data and be free to share it with the service providers of their choice, without having to go through vehicle manufacturers.

This would also have a wide range of benefits for both drivers and wider society. For example, if drivers choose to share their data with insurers, it could facilitate:

  • Tailored insurance policies that incentivise better driving, making roads safer.
  • Policies that encourage drivers to drive less — and better — also contribute to reducing fuel consumption and helping to reduce emissions.
  • Speedier claims-handling and claims-related services, as well as other innovative services, such as in-vehicle driver coaching.

Furthermore, as vehicle technology develops ― think, ultimately, of self-driving cars ― without access to the vehicle data, insurers will be unable to understand the changes in risk to insure those vehicles. Access to that data will therefore be vital to allow society to manage the risks brought about by such technological advances.

The only way for this to become reality is by developing sector-specific EU legislation, in addition to the Data Act, to ensure data-sharing is secure and fair, and to enable both drivers and society to benefit from the advantages vehicle data can offer.

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Nicolas Jeanmart

Head of personal & general insurance
+32 2 894 30 40

Oleksandra Hrendey

Senior policy advisor, general insurance
+32 2 894 30 41