How new players like ROLLiN' Insurance are transforming car insurance

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Car insurance is believed to date back to the 19th Century, and since then, it might seem like things have scarcely changed.

However, the world of car insurance is not as stagnant as it might seem. Newcomers on the scene such as ROLLiN' Insurance are helping to evolve the industry in a range of ways.

Let's take a look at all the ways young brands are forging their own paths in the sphere of car insurance, and find out if customers can benefit.

Young drivers often face additional excess costs as a result of their age. It's true that young drivers are overrepresented in traffic collision statistics. Therefore, young people looking to purchase insurance often simply accept this generalisation and pay higher excess.

Brands like ROLLiN' challenge this notion. They believe customers are individuals, not data points. Why should young people be made to pay higher fees because of the behaviour of others in their age bracket?

ROLLiN' offers a single, comprehensive insurance policy, which doesn't include an additional excess based on your age*.

New brands in the car insurance space are finding other ways to more deeply appreciate the behaviours of their customers. One example of this is ROLLiN's Safe 'n Save policy.

This policy enables business use customers to track their safe driving practices. Drivers are assigned a Policy Score calculated using metrics such as phone use, braking and speeding.

From the 3rd consecutive monthly policy onwards, business use drivers can receive up to a 15% monthly discounts for Policy Scores upwards of 85^. This rewards drivers who drive safely and incentivises them to remain conscientious behind the wheel.

Newcomers like ROLLiN' Insurance go the extra mile to understand their customer's driving habits.

Let's face it, the world of car insurance can be quite complex. New players like ROLLiN' seek to simplify things in a number of ways.

ROLLiN' sells one single comprehensive policy for both personal and business use. Their Product Disclosure Statement has been written in the plainest English possible, to help ensure customers know exactly what they are getting and choose the right insurance for themselves.

The increasing dominance of the Internet has paved the way for more and more purchases being made digitally. According to one survey, 45% of Australians have purchased car insurance online.

Many older car insurance companies have made the transition into the online space. However, some newcomers to the industry are entirely digital brands, which offers many benefits.

ROLLiN' is a digital brand, which means it's able to keep its overheads low, which helps keep its prices low. In a cost of living crisis where young people are feeling the pinch, this can go a very long way.

ROLLiN' customers can also rest assured that customer support is easily accessible online. It's easy for drivers to get in touch with ROLLiN's team and handle any questions that arise.

Disruptors in the car insurance industry offer a range of policies that help them stand out from the pack. One such example is ROLLiN' Insurance offering its customers to find alternative transport when their vehicle is in the shop getting repaired for a covered incident.

The brand helps fund any form of legal replacement transport customers can think of, at a maximum cost of $80 a day for up to 21 days. This encourages creativity on the part of its customers and is a unique approach to car insurance.

As time goes on, we are likely to see more and more new players come up with unique and creative concepts such as this.

Brands like ROLLiN' seek to carve out a different kind of relationship with their customers through initiatives like this one.

If there is one future trend we can predict for the automotive industry, it is an increase in electric vehicle usage. In 2022, numbers of electric vehicles on Australian roads almost doubled from 44,000 to 83,000, with such trends expected to continue.

Naturally, all these new electric vehicles are likely to need insurance.

Several newcomers, such as ROLLiN' Insurance, have recognised the growth of EVs in Australia, and have prepared accordingly.

ROLLiN's policy also covers customers for electric car batteries, charging cables, wall boxes, and adapters. This is the case even if such equipment is being leased#.

Many new brands seek to make things easy for electric vehicle owners when it comes to insurance. This supports the electric vehicle revolution and a greener future for all.

It's clear to see that newer brands are utilising a range of initiatives to transform the car insurance landscape in Australia. The industry has already seen a number of notable shake-ups, and this looks set to continue into the future.

For customers, this means a wider range of genuinely different insurance options are available for their vehicles. It's always important to have fresh brands on the scene which have unique offerings.

*Other excesses apply.

^Minimum premiums may apply. Underwriting criteria, T&Cs apply. Refer to the Premium, Excess & Discounts Guide at rollininsurance.com.au for more information.

#Cover for loss or damage to your EV, its battery, charging cables, wall boxes and adapters, through a covered event. Non-import EVs under $150K only. Underwriting criteria apply.

Underwriting criteria applies. This is general advice only and does not take into account your individual objectives, financial situation or needs ("your personal circumstances"). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant Product Disclosure Statement and Target Market Determinations available from rollininsurance.com.au. Insurance issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as Rollin' Insurance.