Italian car insurance premiums went
down by 7.5% in 2015, but the country's problems with expensive
premiums and high fraud rates in the sector still are not
resolved, said the head of Italy's insurance supervisory body on
Wednesday.
The price gap between Italian auto insurance policies and
those in France, Germany and Spain has dropped to about 150
euros from 234 euros, said IVASS President Salvatore Rossi,
adding that signs of improvement in the sector "were
strengthened and extended".
Policies with a so-called black box GPS locator installed in
vehicles increased to one-sixth of all contracts in 2015, he
said.
Anti-fraud efforts by insurance companies provided for a
1.5% reduction in premium costs, which could now get decisive
support from the new Integrated Anti-Fraud Archive (AIA), Rossi
said in the IVASS annual report.
The recently launched AIA unites sector data banks to bring
together 1.5 billion pieces of information regarding vehicles,
registrations, licenses, policies, damages, testimony and
inspections.
Rossi said having AIA is like passing "from a bow and arrow
to a long-range cannon: savings on costs and premiums should be
much greater."
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