Kanetix.ca Survey Reveals Canadians Will Share Data From Cars For Lower Insurance Rates

February 7, 2018

While at CES 2018, I was interviewed by 680 News after Kanetix.ca, Canada's leading insurance marketplace, released their survey on Canadian consumer sentiment about living in a hyper-connected world and data sharing. Listen to my interview below.

 

 

Most Canadian consumers are feeling positive about being connected and sharing data in exchange for improved more personalized products and services. However, they have concerns around security and privacy in sharing information electronically with insurers. 

 

The survey of 1,000 respondents looked at a number of technology advancements, including acceptance of, and concerns around, driverless and connected cars. The 18 to 34 demographic are generally more at ease with technology innovation across the board versus middle-aged respondents.

 

In terms of their comfort level with new automotive technologies:

 

  • Two-thirds of respondents said they are comfortable with voice assistance (e.g. Google Assistant or Amazon Alexa).

  • 60 per cent of respondents are comfortable with their car transmitting location and vehicle data, with men (63 per cent) more comfortable than women (57 per cent).

  • 58 per cent of the audience said they were comfortable with augmented reality or heads-up displays where speed and navigation, for example, appears on the driver's windshield, with men being much more comfortable than women by a factor of 10 percentage points.

  • A majority of respondents (59 per cent) are uncomfortable with autonomous vehicles, with females being more so (65 per cent) than males at 52 per cent.

  • The most accepting of autonomous vehicles is the 18 to 34 demographic at 55 per cent, versus 30 per cent of middle aged (45+) respondents.

 

Despite the general acceptance of new automotive technologies, there were also concerns around data privacy and information sharing, even when sharing data with insurance providers could lead to lower premiums on auto insurance, home insurance, life insurance or health insurance:

 

  • The biggest concern for respondents was security (35 per cent), followed by privacy (29 per cent).

  • 54 per cent of the respondents are most likely to share home (e.g. alarms, floods) and medical information with their insurer via technology.

  • Less than half (46 per cent) of people said they were willing to share lifestyle habits and driving information.

Visit Kanetix.ca for more survey results and an infographic that illustrates the key findings.

 

 

 

 

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©2018 BY ANDREW LO.