Global Strategic Analysis of Usage-based Insurance Market for Passenger Vehicles, Forecast to 2025

Global Strategic Analysis of Usage-based Insurance Market for Passenger Vehicles, Forecast to 2025

Hardware-agnostic Solutions and Data Analytics Expected to Disrupt the Connected Insurance Market

RELEASE DATE
22-Aug-2018
REGION
North America
Research Code: MD31-01-00-00-00
SKU: AU01704-NA-MR_22245
$4,950.00
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Description

The strategic analysis of the Usage Based Insurance (UBI) market offers a 360-degree perspective of the connected insurance policies answering questions, such as: Where are the avenues for growth opportunities? What trends are affecting the growth of the market in different regions? It discusses the outlook for technologies such as telematics-based pay as you drive (PAYD) and pay how you drive (PHYD) solutions. The research also looks into key market participants who are and will impact the future of the motor insurance market.

UBI utilizes data that is gathered from smartphones, telematics devices, sensors, and applications analyzing driving behavior, including speeding and braking behaviors. Based on safe driving behavior (identified from the data gathered from an array of IoT devices mentioned above), a customer with a safe driving behavior is given a reward-based discounts or lower premium.

This research highlights market, technology, and regional trends so the reader will understand where opportunities await in the market. Top trends include data-enabled use cases, data monetization, and scenarios of technologies such as blockchain with case studies from top automakers. The forecasts for connected insurance policies are provided from 2017 to 2025 along with market share of telematics service providers and also insurance companies. The study also analyzes different devices required for data extraction and the pros and cons of each kind of device. Emphasis has been laid on smartphone as a sensor for data collection and the dongle market scenarios.

Furthermore, this study features important case studies of telematics service providers and insurance companies by looking into company portfolio of solutions and services, key associations in the industry, and also future outlooks. Device preference for connected insurance and the movement towards embedded telematics units in Europe are highlighted – for example, the eCall impact on insurance.

Car companies are evolving from the business of merely manufacturing and selling cars to providing related services and multi-modal mobility solutions to target new customers and future-proof their business. This research service focuses on different new business models which are on demand.

Association with the connected market is made which resonates with the addressable market. Specific angles to data monetization are analyzed, which translates into newer business models. Autonomous insurance philosophies and crash reconstruction using smartphone models and AI are also discussed in the study. Start-ups disrupting the insurance domain with innovative business models and on-demand schematics have been analyzed. Country profiles especially those of Italy and US have been analyzed as well and the next growth areas are identified as a part of this geographical research.

Table of Contents

Key Findings

UBI Market Forecast 2017 and 2025

Global UBI Market—Market Share of TSPs and Insurance Companies

Estimate of Policies by Device Type

Global Motor Insurance Premium Market—AV Impact

Total OBD Adoption in North America

Total OBD Adoption in Europe

UBI Ecosystem

Insurance Providers—Overview

Insurance Companies—UBI Analysis

OEM Partnerships with Insurance Companies and TSPs

Future UBI Services—Leverage IoT and Latest Technologies

Proactive First Notification Of Loss (FNOL)

Blockchain in UBI—Toyota

Artificial Intelligence (AI) Usage Across Insurance Industry

Autonomous Vehicles Impact Analysis

Octo Telematics—Market Share Analysis

UBI Pricing Model Analysis

UBI—2017 vs. 2025

Research Scope

Research Aims and Objectives

Research Background

Related Frost & Sullivan Video Content Available for Support

Research Methodology

UBI Business Model Definition

UBI Product Life Cycle Analysis

Connected Insurance

UBI Product Types—Telematics-based Insurance Delivery Options

Driver Scoring Graph

Driver Engagement Models from Insurance Companies

UBI Vendor Analysis

UBI Market Forecast—2017 and 2025

Global UBI Market—Market Share of TSPs and Insurance Companies

Estimate of Policies by Device Type

North America—UBI Market Analysis

Europe—UBI Market Analysis

Case Study—Telematics Insurance in Italy

LATAM—Telematics-Based Insurance Analysis

UBI Interest Map in India—A Snapshot

UBI Product Life Cycle Analysis—China

Pilot UBI Product in China—Ping An

On-Demand Insurance Business Model

Driving Factors for On-Demand Insurance

Pay Per Mile—By Miles Business Model

Impact of Crash Mitigating Technologies on Premium

Nexar

Vision-Based Driver Scoring—Nexar

Dash

DashLabs

TrueMotion

Zendrive

The Floow

MyDrive Solutions

Cambridge Mobile Telematics (CMT)

Impact of Autonomous Cars on UBI

Parameters Considered for Motor Insurance Premium Calculations

Opportunity for Insurance Companies with Autonomous Cars

Motor Insurance Package

Possible Future Business Models of Motor Insurance Companies

Insurance Companies—UBI Analysis

Insurance Company Benchmarking

Progressive

Allstate

Allstate—Drivewise Platform

State Farm

Hartford

Hartford—TrueLane Platform

Travelers

Swiss Re

Swiss Re—Swiss Re Automotive Solutions

Allianz

Allianz—Bonus Drive Platform

Marmalade Insurance

Data Collection

The Floow—Helping OEMs to Monetize Data

UBI Business Model

Otonomo’s Data Exchange Platform

Commercial Data Types Tracked by Otonomo

Octo Telematics—Overview and Market Share Analysis

Octo Telematics—UBI Capability

Octo Telematics—Ecosystem Snapshot

Octo Telematics—Link Program

LexisNexis Risk Solutions—Company Overview

LexisNexis—UBI Capability

Vodafone—UBI Solution

Verizon—UBI Solution

AT&T—UBI Solution

Growth Opportunity—Partnerships and Business Models

Automotive UBI Companies

Automotive UBI—Strategic Imperatives

3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Figures
  • 1. Automotive UBI Market: Key Findings, Global, 2017
  • 2. Automotive UBI Market: Insurance Providers – Overview, Global, 2017
  • 3. Automotive UBI Market: Insurance Companies – UBI Analysis, Global, 2017
  • 4. Automotive UBI Market: OEM Partnerships, Global, 2017
  • 5. Automotive UBI Market: Octo Telematics, Global, 2017
  • 6. Automotive UBI Market: Key Findings, Global 2017–2025
  • 7. Automotive UBI Market: Key Participants, Global, 2017
  • 8. Automotive UBI Market: UBI Vendor Analysis, Global, 2017
  • 9. Automotive UBI Market: UBI Interest Map, India, 2017
  • 10. Automotive UBI Market: Parametric Impact Analysis, Global, 2017–2050
  • 11. Motor Insurance Market: Possible Future Business Models, Global, 2017–2050
  • 12. Automotive UBI Market: Insurance Companies – UBI Analysis, Global, 2017
  • 13. Automotive UBI Market: Insurance Company Benchmarking, Global, 2017
  • 14. Automotive UBI Market: Octo Telematics, Global, 2017
  • 15. Automotive UBI Market: LexisNexis Risk Solutions—Company, Global, 2017
List of Charts
  • 1. Automotive UBI Market: Penetration Forecast, Global, 2017 and 2025
  • 2. Automotive UBI Market: Market Share of TSPs, Global, 2017
  • 3. Automotive UBI Market: Market Share of Insurance Companies, Global, 2017
  • 4. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2017
  • 5. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2025
  • 6. Automotive UBI Market: AV Impact on Motor Insurance Premium, Global, 2017–2035
  • 7. OBD II Automotive Aftermarket: Total OBD Adoption, NA, 2016–2023
  • 8. OBD II Automotive Aftermarket: Total OBD Adoption, Europe, 2016–2023
  • 9. Automotive UBI Market: Future Services, Global, 2016–2025
  • 10. Automotive UBI Market: Autonomous Vehicles Impact Analysis, Global, 2017
  • 11. Automotive UBI Market: Policies Market Share, Global, FY 2016–2017
  • 12. Automotive UBI Market: UBI Product Life Cycle Analysis, Global, 2017
  • 13. Automotive UBI Market: Connected Insurance, Global, 2017
  • 14. Automotive UBI Market: Driver Scoring Graph, Global, 2017
  • 15. Automotive UBI Market: Penetration Forecast, Global, 2017 and 2025
  • 16. Automotive UBI Market: Market Share of TSPs, Global, 2017
  • 17. Automotive UBI Market: Market Share of Insurance Companies, Global, 2017
  • 18. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2017
  • 19. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2025
  • 20. Automotive UBI Market: Market Analysis, Europe, 2017
  • 21. Automotive UBI Market: Revenue Generating Avenues for UBI by Country, Europe, 2017
  • 22. Telematics-Based Insurance Business Model Opportunities, LATAM, 2017–2023
  • 23. Insured Vehicles in Operation, LATAM, 2017
  • 24. Automotive UBI Market: UBI Product Life Cycle Analysis, China 2000–2020
  • 25. Automotive UBI Market: Impact of Crash Mitigating Technologies, Global,2017
  • 26. UBI Market: TrueMotion, Global, 2017
  • 27. Automotive UBI Market: Current and Future Parameters, Global, 2014 and 2050
  • 28. UBI Market: Motor Insurance Package, Global, 2017
  • 29. Automotive Data Monetization Market: Otonomo’s Data Exchange Platform, Global, 2017
  • 30. Automotive UBI Market : Policies Market Share, Global, FY 2016–2017
  • 31. Automotive UBI Market: Revenue Analysis, Global, FY 2016–2017
Related Research
The strategic analysis of the Usage Based Insurance (UBI) market offers a 360-degree perspective of the connected insurance policies answering questions, such as: Where are the avenues for growth opportunities? What trends are affecting the growth of the market in different regions? It discusses the outlook for technologies such as telematics-based pay as you drive (PAYD) and pay how you drive (PHYD) solutions. The research also looks into key market participants who are and will impact the future of the motor insurance market. UBI utilizes data that is gathered from smartphones, telematics devices, sensors, and applications analyzing driving behavior, including speeding and braking behaviors. Based on safe driving behavior (identified from the data gathered from an array of IoT devices mentioned above), a customer with a safe driving behavior is given a reward-based discounts or lower premium. This research highlights market, technology, and regional trends so the reader will understand where opportunities await in the market. Top trends include data-enabled use cases, data monetization, and scenarios of technologies such as blockchain with case studies from top automakers. The forecasts for connected insurance policies are provided from 2017 to 2025 along with market share of telematics service providers and also insurance companies. The study also analyzes different devices required for data extraction and the pros and cons of each kind of device. Emphasis has been laid on smartphone as a sensor for data collection and the dongle market scenarios. Furthermore, this study features important case studies of telematics service providers and insurance companies by looking into company portfolio of solutions and services, key associations in the industry, and also future outlooks. Device preference for connected insurance and the movement towards embedded telematics units in Europe are highlighted – for example, the eCall impact on insurance. Car companies are evo
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Table of Contents | Executive Summary~ || Key Findings~ || UBI Market Forecast 2017 and 2025~ || Global UBI Market—Market Share of TSPs and Insurance Companies~ || Estimate of Policies by Device Type~ || Global Motor Insurance Premium Market—AV Impact~ || Total OBD Adoption in North America~ || Total OBD Adoption in Europe~ || UBI Ecosystem~ || Insurance Providers—Overview~ || Insurance Companies—UBI Analysis~ || OEM Partnerships with Insurance Companies and TSPs~ || Future UBI Services—Leverage IoT and Latest Technologies~ || Proactive First Notification Of Loss (FNOL)~ || Blockchain in UBI—Toyota~ || Artificial Intelligence (AI) Usage Across Insurance Industry~ || Autonomous Vehicles Impact Analysis~ || Octo Telematics—Market Share Analysis~ || UBI Pricing Model Analysis~ || UBI—2017 vs. 2025~ | Research Scope, Objectives, Background, and Methodology~ || Research Scope~ || Research Aims and Objectives~ || Research Background~ || Related Frost & Sullivan Video Content Available for Support~ || Research Methodology~ | Automotive Usage Based Insurance Market—Introduction and Product Overview~ || UBI Business Model Definition~ || UBI Product Life Cycle Analysis~ || Connected Insurance~ || UBI Product Types—Telematics-based Insurance Delivery Options~ || Driver Scoring Graph~ || Driver Engagement Models from Insurance Companies~ | Automotive Usage Based Insurance Market—Market Size and Analysis~ || UBI Vendor Analysis~ || UBI Market Forecast—2017 and 2025~ || Global UBI Market—Market Share of TSPs and Insurance Companies~ || Estimate of Policies by Device Type~ | Automotive Usage Based Insurance Market—Regional Analysis~ || North America—UBI Market Analysis~ || Europe—UBI Market Analysis~ || Case Study—Telematics Insurance in Italy~ || LATAM—Telematics-Based Insurance Analysis~ || UBI Interest Map in India—A Snapshot~ || UBI Product Life Cycle Analysis—China~ || Pilot UBI Product in China—Ping An~ | Automotive Usage Based Insurance Market—Disruptive Business Models~ || On-Demand Insurance Business Model~ || Driving Factors for On-Demand Insurance~ || Pay Per Mile—By Miles Business Model~ || Impact of Crash Mitigating Technologies on Premium~ | Automotive Usage Based Insurance Market—Start-up Companies and Business Models~ || Nexar~ || Vision-Based Driver Scoring—Nexar~ || Dash~ || DashLabs~ || TrueMotion~ || Zendrive~ || The Floow~ || MyDrive Solutions~ || Cambridge Mobile Telematics (CMT)~ | Effect of Autonomous Car on UBI~ || Impact of Autonomous Cars on UBI~ || Parameters Considered for Motor Insurance Premium Calculations~ || Opportunity for Insurance Companies with Autonomous Cars~ || Motor Insurance Package~ || Possible Future Business Models of Motor Insurance Companies~ | Automotive Usage Based Insurance Market—Insurance Company Profiles~ || Insurance Companies—UBI Analysis~ || Insurance Company Benchmarking~ || Progressive~ || Allstate~ || Allstate—Drivewise Platform~ || State Farm~ || Hartford~ || Hartford—TrueLane Platform~ || Travelers~ || Swiss Re~ || Swiss Re—Swiss Re Automotive Solutions~ || Allianz~ || Allianz—Bonus Drive Platform~ || Marmalade Insurance~ | Data Monetization in UBI~ || Data Collection~ || The Floow—Helping OEMs to Monetize Data~ || UBI Business Model~ || Otonomo’s Data Exchange Platform~ || Commercial Data Types Tracked by Otonomo~ | Telematics Service Provider Profiles~ || Octo Telematics—Overview and Market Share Analysis~ || Octo Telematics—UBI Capability~ || Octo Telematics—Ecosystem Snapshot~ || Octo Telematics—Link Program~ || LexisNexis Risk Solutions—Company Overview~ || LexisNexis—UBI Capability~ || Vodafone—UBI Solution~ || Verizon—UBI Solution~ || AT&T—UBI Solution~ | Automotive Usage Based Insurance Market—Growth Opportunity Analysis~ || Growth Opportunity—Partnerships and Business Models~ || Automotive UBI Companies~ || Automotive UBI—Strategic Imperatives~ | Conclusion~ || 3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || List of Exhibits~
List of Charts and Figures 1. Automotive UBI Market: Key Findings, Global, 2017~ 2. Automotive UBI Market: Insurance Providers – Overview, Global, 2017~ 3. Automotive UBI Market: Insurance Companies – UBI Analysis, Global, 2017~ 4. Automotive UBI Market: OEM Partnerships, Global, 2017~ 5. Automotive UBI Market: Octo Telematics, Global, 2017~ 6. Automotive UBI Market: Key Findings, Global 2017–2025~ 7. Automotive UBI Market: Key Participants, Global, 2017~ 8. Automotive UBI Market: UBI Vendor Analysis, Global, 2017~ 9. Automotive UBI Market: UBI Interest Map, India, 2017~ 10. Automotive UBI Market: Parametric Impact Analysis, Global, 2017–2050~ 11. Motor Insurance Market: Possible Future Business Models, Global, 2017–2050~ 12. Automotive UBI Market: Insurance Companies – UBI Analysis, Global, 2017~ 13. Automotive UBI Market: Insurance Company Benchmarking, Global, 2017~ 14. Automotive UBI Market: Octo Telematics, Global, 2017~ 15. Automotive UBI Market: LexisNexis Risk Solutions—Company, Global, 2017~| 1. Automotive UBI Market: Penetration Forecast, Global, 2017 and 2025~ 2. Automotive UBI Market: Market Share of TSPs, Global, 2017~ 3. Automotive UBI Market: Market Share of Insurance Companies, Global, 2017~ 4. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2017~ 5. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2025~ 6. Automotive UBI Market: AV Impact on Motor Insurance Premium, Global, 2017–2035~ 7. OBD II Automotive Aftermarket: Total OBD Adoption, NA, 2016–2023~ 8. OBD II Automotive Aftermarket: Total OBD Adoption, Europe, 2016–2023~ 9. Automotive UBI Market: Future Services, Global, 2016–2025~ 10. Automotive UBI Market: Autonomous Vehicles Impact Analysis, Global, 2017~ 11. Automotive UBI Market: Policies Market Share, Global, FY 2016–2017~ 12. Automotive UBI Market: UBI Product Life Cycle Analysis, Global, 2017~ 13. Automotive UBI Market: Connected Insurance, Global, 2017~ 14. Automotive UBI Market: Driver Scoring Graph, Global, 2017~ 15. Automotive UBI Market: Penetration Forecast, Global, 2017 and 2025~ 16. Automotive UBI Market: Market Share of TSPs, Global, 2017~ 17. Automotive UBI Market: Market Share of Insurance Companies, Global, 2017~ 18. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2017~ 19. Automotive UBI Market: Estimate of Policies by Device Type, Global, 2025~ 20. Automotive UBI Market: Market Analysis, Europe, 2017~ 21. Automotive UBI Market: Revenue Generating Avenues for UBI by Country, Europe, 2017~ 22. Telematics-Based Insurance Business Model Opportunities, LATAM, 2017–2023~ 23. Insured Vehicles in Operation, LATAM, 2017~ 24. Automotive UBI Market: UBI Product Life Cycle Analysis, China 2000–2020~ 25. Automotive UBI Market: Impact of Crash Mitigating Technologies, Global,2017 ~ 26. UBI Market: TrueMotion, Global, 2017~ 27. Automotive UBI Market: Current and Future Parameters, Global, 2014 and 2050~ 28. UBI Market: Motor Insurance Package, Global, 2017~ 29. Automotive Data Monetization Market: Otonomo’s Data Exchange Platform, Global, 2017 ~ 30. Automotive UBI Market : Policies Market Share, Global, FY 2016–2017~ 31. Automotive UBI Market: Revenue Analysis, Global, FY 2016–2017~
Author Ramnath Eswaravadivoo
Industries Automotive
WIP Number MD31-01-00-00-00
Is Prebook No
GPS Codes 9673-A6,9800-A6,9807-A6,9813-A6,9A70-A6,9AF6-A6,9AF7-A6