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Insurers prove laggards in technology race

Industry's reluctance to embrace technology is partly cultural and partly financial

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Some insurers are using telematics for motor insurance. Telematics uses aircraft-style "black boxes" to collect data about how policyholders drive their cars, so they can be rewarded with lower insurance premiums if they adopt a cautious style.

London

AT a time the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind.

Some insurers are using developments such as telematics, or social media sources, to increase

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