- Seven of the most downloaded insurance apps on the list are dedicated to auto insurance showing their wider adoption among consumers. This is due to the convenience mobile gives with online claims as well as new pay per mile models.
- Hastings Direct Insurance, a home and auto insurance company, was the most downloaded UK InsurTech app in 2022 so far. Hastings Direct’s app has been downloaded 30% more in 2022 compared to the same period in 2021 as travel returns post Covid-19.
- Mobile device usage in the UK currently has a market share of 46% as of June 2021 and this market share has been growing at a steady CAGR of 9.74% from 2015 to 2022. Insurance providers such as Hastings Direct are reaping all the benefits of their digitisation into this channel and it is expected that other insurers will follow this trend as they improve the customer experience.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global