When the pandemic took over the world in 2020, many thought we would have fewer road accidents due to reduced traffic and traveling. However, three years later, we are now seeing an opposite and concerning upward trend of traffic fatalities in many parts of the world.
The rapid increase in fatal road accidents is becoming a serious global health, life, and business problem, causing around 1.35 million deaths worldwide and costing around $1.8 trillion yearly. Many factors contributed to this rising issue: more speeding due to less congested traffic, increased drunk driving, and rising stress and mental health issues during the pandemic, to name a few.
Gen Z (ages 16 – 25) drivers are the most severely affected of all the age groups, experiencing a rapid surge in road fatalities. However, the latest Global Consumer Survey by ReMark, a SCOR Group company, discovered that many Gen Z drivers are very confident, possibly overconfident in their driving skills, often not fully recognizing the serious risks when they are behind the wheel such as the danger of distracted driving, i.e., talking or texting on the phone while driving. What can (re)insurers do to address this issue?
This joint article with DriveQuant, SCOR’s partner company, analyzes Gen Z’s habits and attitude toward safe driving. It also gives insights into how the data/physics-based analysis and connected insurance solutions with eco-driving components can reduce their distractions and help them learn to be better drivers.
To learn more about how telematics backed by innovative data and technology can reduce distracted driving and promote eco-driving, check out SCOR’s Innovation Podcast episodes featuring experts from SCOR and DriveQuant discussing the importance of developing conscientious driving skills.
SCOR Innovation Podcast: Promoting conscientious driving skills with DriveQuant Part 1 – Distracted Driving |Part 2 – Eco Driving