A significant spike in hijackings has led to vehicle trackers increasingly becoming mandatory for insurance purposes in South Africa, a new report by Genesis Analytics and the Financial Sector Conduct Authority (FSCA) shows.
Data from the South African Police Services shows that carjacking incidents have increased across the country over the past three years , jumping by a 10% compound annual growth rate .
“Insurers are also using these trackers and other uses of IoT to evaluate and monitor the behaviours of their customers to determine risk and make calculations on premiums and payouts. The vehicle-tracking telemetry technology allows the monitoring and evaluation process to occur in real time, potentially improving product provision and service.”South Africa’s crime statistics for Q3 2021/2022 showed another steep increase in hijackings across the country.
However, annual trends show that hijackings remained largely flat over the three-month period, moving from a high of 1,919 incidents in October 2021 to 1,732 incidents in December 2021. Data published by the group at the end of February shows hijacking attributed 57.5% of the Tracker vehicle crime activities for the second half of 2021. This is a complete reversal compared to July to December 2018, when theft accounted for 57.2% of the vehicle crime activities.
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