22 février 2020

Usage-Based Insurance Accelerates In the United States

Usage-Based Insurance Accelerates In the United States As UBI programs continue to gain popularity across the United States, driving behaviors, miles driven and time of day travelled will begin to replace traditional auto insurance. Lately, it’s been hard to ignore the traction usage-based insurance (UBI) has been gaining in the United States. According to PTOLEMUS, a Brussels-based research and strategy consulting firm focused on mobility, of the 875 million auto insurance policies, about 20 million were usage-based last... [Lire la suite]
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02 février 2020

Is it Time for Usage-Based Insurance for Vehicles in Indian Market? A Critical Analysis

Is it Time for Usage-Based Insurance for Vehicles in Indian Market? A Critical Analysis Most car owners in the current state of the market are content with buying the simple third-party insurance or a comprehensive insurance that covers damage to the vehicle, usually with a significant number of exclusions. Most new types of cover are not yet known to many consumers, or those policyholders who tend to go ahead with the traditional means of insuring a vehicle. In fact we could go so far as to say there... [Lire la suite]
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24 janvier 2020

Japan Usage Based Insurance Market

Japan Usage Based Insurance Market In the present era, the insurance industry has grown more effectively with the introduction of new and effective policies for safeguarding the people. Whereas, the introduction of the usage based insurance differs from the traditional insurance, which attempts to differentiate and reward “safe” drivers, delivering them lower premiums and/or a no-claims bonus. Whereas, the usage based insurance is the sort of vehicle insurance whereby costs are dependent upon the variety of vehicle utilized,... [Lire la suite]
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18 janvier 2020

Usage-Based Car Insurance in India

Usage-Based Car Insurance in India The motor insurance industry is witnessing a fast progress and innovative technological development in the recent years. With multiple new concepts launched for both the insurer and the drivers, this industry is seeing new dimensions. Though very less is known about the Usage-Based car insurance, this is an innovative concept which can change the future of motor insurance industry. This concept mainly works on the basis of telematics and RF technology to understand the driving nature as well as the... [Lire la suite]
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30 décembre 2019

Rapid Growth of European Usage-based Insurance Programs

Rapid Growth of European Usage-based Insurance Programs According to a recent report by Research and Markets, the European market for insurance telematics policies reached 10.3 million in 2018. Growing at a compound annual growth rate (CAGR) of 36 percent, this number is expected to reach 47.9 million by 2023. Usage-based insurance (or UBI) uses a special tracking device (usually placed within a client’s vehicle) to track driving behavior. The idea is that, by examining how a driver accelerates, brakes, and corners, an... [Lire la suite]
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16 décembre 2019

Share of auto insurance companies who are expected to use telematics usage-based insurance(UBI) in the United States by 2020

Share of auto insurance companies who are expected to use telematics usage-based insurance(UBI) in the United States by 2020 This statistic shows the share of auto insurance companies forecast to use telematics usage-based insurance in the United States by 2020. Usage-based insurance is a type of insurance in which the costs are based on driving behaviors of policy holders. By 2020, it is forecast that 70 percent of U.S. car insurers will be using telematics UBI. read more... [Lire la suite]
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31 août 2019

Asia Pacific Automotive Usage-Based Insurance (UBI) Market to 2027

Asia Pacific Automotive Usage-Based Insurance (UBI) Market to 2027 The increasing demand for mobility-as-a-service (MaaS) and various type of insurance premium policies are boosting the growth of the automotive UBI market. Moreover, the strategic partnerships among insurance companies and telematics companies are anticipated to propel automotive UBI market growth in the forecast period. In the last few years, the consumer behavior towards intercity and intracity transit has been transformed to a newer level. A significant... [Lire la suite]
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21 août 2019

3 Reasons Usage Based Insurance is Driving Billions of Dollars in Global Telematics Market Growth

3 Reasons Usage Based Insurance is Driving Billions of Dollars in Global Telematics Market Growth It’s not hard to understand and forecast why usage based insurance (UBI) — otherwise known as behaviour-based insurance or pay-as-you-drive (PAYD) — is becoming popular among North American drivers and rest of the world. With improved governmental regulations and technology market penetration the industry estimates the automotive telematics market is expected to grow at a CAGR of 23 – 24 % over the next few years. By... [Lire la suite]
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27 août 2018

More Auto Insurers Are Now Offering Usage-Based Insurance

More Auto Insurers Are Now Offering Usage-Based Insurance   Chances are that if your auto insurer doesn’t offer usage-based insurance (UBI) also known as pay-as-you-drive (PAYD) insurance or pay-how-you-drive (PHYD) insurance, it soon will. With usage-based insurance, you allow a telematics device to be installed in your vehicle which in turn allows the insurance company to monitor your driving habits. If you are a safe driver, your good driving habits may earn you a lower insurance premium than other people who... [Lire la suite]
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10 août 2018

Global and China UBI Market, 2021- Market-based Reform of Car Insurance Rates Will Bring Unprecedented Opportunities

Global and China UBI Market, 2021- Market-based Reform of Car Insurance Rates Will Bring Unprecedented Opportunities The "Global and China UBI Industry Report, 2017-2021" report has been added to Research and Markets'offering. Starting in China in 2012, later than in foreign countries, UBI is primarily developed by mainly referring to foreign products and mature models. Auto insurance, always the largest subsector of property insurance in China, reported original premium income of RMB683.455... [Lire la suite]
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