Innovative Business Models in Automotive Finance and Insurance, Forecast to 2025

Innovative Business Models in Automotive Finance and Insurance, Forecast to 2025

Fintech Growth in Finance and Insurance Expected to Boost New Car Loan and UBI Policy Volumes by 2025

RELEASE DATE
20-Dec-2018
REGION
North America
Research Code: ME52-01-00-00-00
SKU: AU01754-NA-MR_22690
$4,950.00
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$4,950.00
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Description

The 24/7 connectivity and instant gratification are transforming the way we operate and automotive F&I is no exception to that. Automotive manufacturers, financial institutions, and technology companies are realizing the numerous advantages of integrating millennial-centric solutions and payment options for insurance and finance; fundamentally changing their business models to match the demand of millennial. The auto F&I industry is optimizing its processes, reducing operational costs, making processes faster and secure, and improving the customer experience by going digital.

Various mobile applications and Websites for vehicle finance are providing personalized consulting services, resulting in customers taking informed decisions related to the total loan amount and EMI. Banks have understood the importance of the auto finance business in their balance sheets and are developing automated lending solutions either by themselves or through collaborations with fintech startups. JP Morgan Chase, Ally Financial Inc., and PNC bank are among the proactive banks to partner with fintech firms for improved digital customer offerings in auto finance.

The auto insurance industry is also following the digitization wave with telematics powered UBI models. Start-ups with their digital solutions are disrupting the traditional business models with On-demand insurance. UBI has become a mainstream model for insurers and the F&I divisions of OEMs, as over 250 telematics programs are launched globally. On-demand economy including car-sharing, ride-sharing, and integrated mobility requires new kinds of insurance and dynamic business models. With telematics companies foraying in, the UBI carriers are ready for UBI 2.0 revolution. Fintech such as Cuvva, By miles, Snapsheet are revolutionizing the auto insurance with the online application, processing, and claim settlement solutions.

In an effort to stay ahead of the disruption curve, it is imperative for participants to adapt to the technology-driven processes and focus on customer experience throughout. Innovations around the business model by creating customer touch points are vital to sustaining in the age of digitization.

Research Scope

The study covers major changes in traditional business models that have been observed since 2015, the effect of CASE technologies in auto finance and insurance and future business models that are to be implemented for growth. The study discusses the factors/trends affecting consumer expectations such as digitization and vehicle ownership trend.


Table of Contents

Executive Summary—Key Takeaways

Executive Summary—Digital Financing Optimizing Lending Experience

Executive Summary—Digital Operations: Opportunity Analysis

Executive Summary—Future of Traditional Insurance: UBI Models

Executive Summary—Data Analytics for UBI Insurance Models

Executive Summary—Current Status and Outlook

Research Scope

Finance and Insurance Scope

Research Aims and Objectives

Research Methodology

Research Background

Definitions

Key Takeaways

Auto Finance Market Size and Forecast

New Vehicle Loan Penetration Forecast

Automotive Finance Market—Moving Toward Digitization

Disruption in Auto Finance—Digital Financing Optimizing Lending Experience

Innovative Finance Models—Chase/Ally/PNC: Banks in Digital Financing

Innovative Finance Models—Autogravity: Online Loan Processing

Innovative Finance Models—AutoFi: Digital Sales Channel for Auto Dealers

Innovative Finance Models—Apple Pay: Mobile Payment Options for EMI

Innovative Finance Models—Toyota/Hyundai/Renault: Dealer Financing

Innovative Finance Models—CPO Programs

Innovative Finance Models—Captive Financing for CPO Cars

Key Takeaways

Future of Traditional Insurance—Usage Based (UBI) Models

UBI Market Size and Forecast

Percent Forecast of UBI Policies by Device Type

Innovative UBI Business Model—On-Demand and Pay-per-mile Insurance

Benchmarked Insurance Companies in UBI

Innovative UBI Strategies—Cuvva: Digital Pay-As-You-Go Insurance

Innovative UBI Strategies—ClaimDi: Digital Insurance Processing

Innovative UBI Strategies—Snapsheet: Digitizing Claim Settlement

Innovative UBI Srategies—Engie App & Warranty Direct

Innovative UBI Strategies—The Floow: Data Analytics for Insurance

Autonomous Technology—Opportunity Analysis for Insurance

Growth Opportunity

Strategic Imperatives for Success and Growth—Finance

Strategic Imperatives for Success and Growth—Insurance

Key Conclusions

Future Outlook

The Last Word—3 Big Predictions

Legal Disclaimer

List of Acronyms

Market Engineering Methodology

List of Exhibits

List of Figures
  • 1. Automotive Finance & Insurance: Trends Driving F&I Business Model Innovation, NA and Europe, 2017-2025
  • 2. Automotive Finance & Insurance: Digital Transformation in Vehicle Finance, NA and Europe, 2017-2025
  • 3. Automotive Finance & Insurance: Digital Operations–opportunity Analysis, NA and Europe, 2018-2025
  • 4. Automotive Finance & Insurance: Factors Driving UBI Adoption, NA and Europe, 2017-2025
  • 5. Automotive Finance & Insurance: Application of Data Analytics to Auto Insurance, NA and Europe, 2017-2025
  • 6. Automotive Finance & Insurance: Digital Transformation in Vehicle Finance, NA and Europe, 2017-2025
  • 7. Automotive Finance and Insurance: Toyota Dealer Financing Current Process, Brazil, 2017
  • 8. Automotive Finance & Insurance: CPO Benefits, NA, 2017
  • 9. Automotive Finance & Insurance: CPO Benefits, NA, 2017
  • 10. Automotive Finance & Insurance: Factors Driving UBI Adoption, NA and Europe, 2017-2025
  • 11. Automotive Finance & Insurance: Insurance Companies in UBI, Global, 2017
  • 12. Automotive Finance & Insurance: Impact Analysis for EV Insurance, NA and Europe, 2018-2025
  • 13. Automotive Finance & Insurance: Opportunities for Insurance Companies, NA and Europe, 2018-2025
List of Charts
  • 1. Automotive Finance & Insurance: New Vehicle* Finance Market Forecast, Global, 2017 and 2025
  • 2. Automotive Finance & Insurance: Auto Loan Volume Forecast, Global, 2017 and 2025
  • 3. Automotive Finance & Insurance: New Vehicle* Loan Penetration, Global, 2017
  • 4. Automotive Finance & Insurance: Vehicle Loan* Penetration Forecast, Global, 2025
  • 5. Automotive Finance & Insurance: UBI Penetration Forecast by Region, Global, 2017 and 2025
  • 6. Automotive Finance & Insurance: UBI Penetration Forecast, Global, 2017 and 2025
  • 7. Automotive Finance & Insurance: Percent Forecast of UBI Policies by Device Type, Global, 2025
  • 8. Automotive Finance & Insurance: Percent of UBI Policies by Device Type, Global, 2017
Related Research
The 24/7 connectivity and instant gratification are transforming the way we operate and automotive F&I is no exception to that. Automotive manufacturers, financial institutions, and technology companies are realizing the numerous advantages of integrating millennial-centric solutions and payment options for insurance and finance; fundamentally changing their business models to match the demand of millennial. The auto F&I industry is optimizing its processes, reducing operational costs, making processes faster and secure, and improving the customer experience by going digital. Various mobile applications and Websites for vehicle finance are providing personalized consulting services, resulting in customers taking informed decisions related to the total loan amount and EMI. Banks have understood the importance of the auto finance business in their balance sheets and are developing automated lending solutions either by themselves or through collaborations with fintech startups. JP Morgan Chase, Ally Financial Inc., and PNC bank are among the proactive banks to partner with fintech firms for improved digital customer offerings in auto finance. The auto insurance industry is also following the digitization wave with telematics powered UBI models. Start-ups with their digital solutions are disrupting the traditional business models with On-demand insurance. UBI has become a mainstream model for insurers and the F&I divisions of OEMs, as over 250 telematics programs are launched globally. On-demand economy including car-sharing, ride-sharing, and integrated mobility requires new kinds of insurance and dynamic business models. With telematics companies foraying in, the UBI carriers are ready for UBI 2.0 revolution. Fintech such as Cuvva, By miles, Snapsheet are revolutionizing the auto insurance with the online application, processing, and claim settlement solutions. In an effort to stay ahead of the disruption curve, it is imperative for participants to adapt to the t
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Table of Contents | Executive Summary~ || Executive Summary—Key Takeaways~ || Executive Summary—Digital Financing Optimizing Lending Experience~ || Executive Summary—Digital Operations: Opportunity Analysis~ || Executive Summary—Future of Traditional Insurance: UBI Models~ || Executive Summary—Data Analytics for UBI Insurance Models~ || Executive Summary—Current Status and Outlook~ | Research Scope, Objectives, Methodology, and Assumptions~ || Research Scope~ || Finance and Insurance Scope~ || Research Aims and Objectives~ || Research Methodology~ || Research Background~ || Definitions~ | Innovation in Finance Business Models~ || Key Takeaways~ || Auto Finance Market Size and Forecast~ || New Vehicle Loan Penetration Forecast~ || Automotive Finance Market—Moving Toward Digitization~ || Disruption in Auto Finance—Digital Financing Optimizing Lending Experience~ || Innovative Finance Models—Chase/Ally/PNC: Banks in Digital Financing~ || Innovative Finance Models—Autogravity: Online Loan Processing~ || Innovative Finance Models—AutoFi: Digital Sales Channel for Auto Dealers~ || Innovative Finance Models—Apple Pay: Mobile Payment Options for EMI~ || Innovative Finance Models—Toyota/Hyundai/Renault: Dealer Financing~ || Innovative Finance Models—CPO Programs~ || Innovative Finance Models—Captive Financing for CPO Cars~ | Innovation in Insurance Business Models~ || Key Takeaways~ || Future of Traditional Insurance—Usage Based (UBI) Models~ || UBI Market Size and Forecast~ || Percent Forecast of UBI Policies by Device Type~ || Innovative UBI Business Model—On-Demand and Pay-per-mile Insurance~ || Benchmarked Insurance Companies in UBI~ || Innovative UBI Strategies—Cuvva: Digital Pay-As-You-Go Insurance~ || Innovative UBI Strategies—ClaimDi: Digital Insurance Processing~ || Innovative UBI Strategies—Snapsheet: Digitizing Claim Settlement~ || Innovative UBI Srategies—Engie App & Warranty Direct~ || Innovative UBI Strategies—The Floow: Data Analytics for Insurance~ || Autonomous Technology—Opportunity Analysis for Insurance~ | Growth Opportunities~ || Growth Opportunity~ || Strategic Imperatives for Success and Growth—Finance~ || Strategic Imperatives for Success and Growth—Insurance~ | Conclusion and Future Outlook~ || Key Conclusions~ || Future Outlook~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || List of Acronyms~ || Market Engineering Methodology~ || List of Exhibits~
List of Charts and Figures 1. Automotive Finance & Insurance: Trends Driving F&I Business Model Innovation, NA and Europe, 2017-2025~ 2. Automotive Finance & Insurance: Digital Transformation in Vehicle Finance, NA and Europe, 2017-2025~ 3. Automotive Finance & Insurance: Digital Operations–opportunity Analysis, NA and Europe, 2018-2025~ 4. Automotive Finance & Insurance: Factors Driving UBI Adoption, NA and Europe, 2017-2025~ 5. Automotive Finance & Insurance: Application of Data Analytics to Auto Insurance, NA and Europe, 2017-2025~ 6. Automotive Finance & Insurance: Digital Transformation in Vehicle Finance, NA and Europe, 2017-2025~ 7. Automotive Finance and Insurance: Toyota Dealer Financing Current Process, Brazil, 2017~ 8. Automotive Finance & Insurance: CPO Benefits, NA, 2017~ 9. Automotive Finance & Insurance: CPO Benefits, NA, 2017~ 10. Automotive Finance & Insurance: Factors Driving UBI Adoption, NA and Europe, 2017-2025~ 11. Automotive Finance & Insurance: Insurance Companies in UBI, Global, 2017~ 12. Automotive Finance & Insurance: Impact Analysis for EV Insurance, NA and Europe, 2018-2025~ 13. Automotive Finance & Insurance: Opportunities for Insurance Companies, NA and Europe, 2018-2025~| 1. Automotive Finance & Insurance: New Vehicle* Finance Market Forecast, Global, 2017 and 2025~ 2. Automotive Finance & Insurance: Auto Loan Volume Forecast, Global, 2017 and 2025 ~ 3. Automotive Finance & Insurance: New Vehicle* Loan Penetration, Global, 2017~ 4. Automotive Finance & Insurance: Vehicle Loan* Penetration Forecast, Global, 2025~ 5. Automotive Finance & Insurance: UBI Penetration Forecast by Region, Global, 2017 and 2025 ~ 6. Automotive Finance & Insurance: UBI Penetration Forecast, Global, 2017 and 2025 ~ 7. Automotive Finance & Insurance: Percent Forecast of UBI Policies by Device Type, Global, 2025 ~ 8. Automotive Finance & Insurance: Percent of UBI Policies by Device Type, Global, 2017~
Author Shruti Pathak
Industries Automotive
WIP Number ME52-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9807-A6,9813-A6,9A57-A6,9AF6-A6