Media Release 16 October 2019


On-demand insurance will play a fundamental role in the future of the industry, new research published by the International Underwriting Association (IUA) states. Pay-as-you go models of cover will allow customers to automatically activate policies when and where they need them. 

The predictions appear in the latest of a series of interviews conducted by the IUA Developing Technology Monitoring Group. In the report Tom Chamberlain, Underwriting Manager General Aviation and Aerospace, London, Allianz Global Corporate & Specialty, outlines how premiums will be adjusted according to data on a person’s location and activity.

He explained: “In the future insurance will be based around whatever you are doing. You will be in your house and your insurance will be active and when you leave your front door your premium will step up as it is now unoccupied. You will then get into a shared economy car and your phone will interact and automatically trigger your insurance for that journey.

“Your insurance will follow you as you go and as your activity changes. It will no longer be a manual process and could realistically work for everything you do requiring insurance.”

The new report, titled ‘On-demand and conquer: is the future of insurance a pay-as-you-go one?’, follows previous publications examining technology surrounding autonomous vehicles and aviation drones. It looks at questions such as the role of big data corporations and tech start-ups in exploiting new technology, the availability of data and fraud risks. Also discussed is the potential for on-demand insurance models to access new markets and customers.

A case study is presented with Flock – Europe’s first ‘pay-as-you-fly’ drone insurance product, launched last year. Users enter flight details and receive a quote that is influenced in real time by factors such as time of day, location and flight conditions.

The IUA Developing Technology Monitoring Group was first established in 2016 in order to harness expertise and interest in new technologies from across a number of traditional lines of business. It recently hosted its second annual seminar with expert speakers addressing topics such as counter-drone technology and the liability implications for artificial intelligence. Around 30 different IUA member companies were represented at the event. 

Copies of the IUA Developing Technology Monitoring Group research are freely available to download from the IUA website here or from Tom Hughes ( on 020 7617 5445.


Scott Farley
Director of Communications
International Underwriting Association
Tel: 0207 617 4449
Mobile: 07876 758 637

Notes to Editors:
About the IUA
The International Underwriting Association of London (IUA) represents international and wholesale insurance and reinsurance companies operating in or through London. It exists to promote and enhance the business environment for its members.

The IUA’s London Company Market Statistics Report shows that overall premium income for the company market in 2018 was £28.437bn. Gross premium written in London totalled £19.559bn while a further £8.877bn was identified as written in other locations but overseen by London operations.