I really appreciate all the replies everyone, thank you.
GentlyBenevolent, their hasn't been any research directly stating that performing hand signals is a major factor, however I wouldn't rule it out. During my research, a very good source was the ROSPA Factsheet which I will link below:
http://www.rospa.com/roadsafety/advice/cycling/info/cycling_accidents_factsheet.pdf
Things such as ‘poor turn/manoeuvre’ is what I wanted to focus on with LED turn Signals.
It could be argued that cyclists who aren't comfortable using hand signals while on the move, LED turn Signals can provide the option to still alert others and be in full control. I guess to more experienced cyclists this might seem rather excessive, since they are used to hand signals and it's not the only reason for poor turns and such.