Global Automotive Usage Based Insurance Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Usage Based Insurance Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Automotive Usage Based Insurance (UBI) is a type of insurance that charges customers based on how much they use their vehicles. This usage can be tracked through devices installed in the vehicles, such as telematics devices. Insurance companies use the data collected from these devices to price insurance premiums. UBI is becoming increasingly popular as it allows insurance companies to price insurance more accurately, based on an individual’s actual driving habits. This can lead to lower premiums for safe drivers and higher premiums for risky drivers.
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Key Trends
There are a few key trends in automotive usage-based insurance technology.
The first is the increasing use of telematics. This is a technology that uses sensors and GPS tracking to collect data about a vehicle’s usage. This data can be used to help insurers better understand a driver’s risk profile and offer more personalized pricing.
Key Drivers
There are a number of key drivers of the automotive usage-based insurance market.
One of the most important drivers is the increasing adoption of telematics-based insurance policies by automotive insurers.
Another important driver of the automotive usage-based insurance market is the increasing availability of telematics devices and services.
Market Segmentation
By Package
- PHYD
- PAYD
By Technology
- Smartphone
- Black Box
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Region
- North America
- US
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Key Players
- Allianz SE
- Allstate Corporation
- Aviva
- Axa
- Insurethebox
- Liberty Mutual Insurance
- Mapfre S.A.
- Nationwide Mutual Insurance Company
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