The global usage-based insurance (UBI) market is experiencing a transformative shift, driven by the rapid adoption of connected technologies and data-driven insights. Traditional insurance models have struggled to keep pace with the evolving automotive landscape, where driver behavior and vehicle usage patterns are becoming more integral to risk assessment. UBI has emerged as a solution to this challenge, offering insurance models that prioritize personalization, transparency, and real-time data analytics. The rise of telematics and technological advancements in artificial intelligence (AI), machine learning (ML), and Internet of things (IoT) are enabling insurers to develop highly tailored programs that better align with individual driving habits.Digitalization; Smartphone Use; Connected, Autonomous, Shared, and Electric Mobility; Post-pandemic Shifts; and Innovative Usage-based Insurance Business Models are Driving Transformational Growth in the UBI Market
Drawing on interviews with key stakeholders in the industry, this research uncovers growth opportunities and identifies challenges that market participants must navigate to stay competitive. The report provides actionable insights for companies looking to capitalize on the emerging trends and technologies shaping the future of the UBI market, offering a clear road map for success in this rapidly evolving sector.
RESEARCH HIGHLIGHTS
This analysis of the global UBI market for passenger vehicles:- examines the growth of UBI programs in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa, focusing on revenue potential and the number of active policies.
- forecasts market development trends through 2030, offering insights into expected growth trajectories for UBI adoption.
- identifies key market trends such as the shift towards integrated solutions, along with the increasing relevance of connected vehicle ecosystems.
- profiles leading players in the UBI space, detailing their strategies and innovations that are shaping the market landscape.
- highlights the significance of partnerships between insurers, automakers, and telematics providers in offering enhanced services.
Table of Contents
Growth Environment: Key Findings
Growth Environment: Transformation in the Automotive UBI Market
Ecosystem in the Automotive UBI Market
Growth Generator in the Global Automotive UBI Market
Growth Generator in UBI - Current State and Future Road Map
Growth Generator North America
Growth Generator Europe
Growth Generator APAC
Growth Generator South America
Growth Generator Middle East and Africa
Insurers Profiling
Technology Services Provider Profiles
Growth Opportunity Universe
Appendix & Next Steps
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Allstate
- Progressive
- State Farm
- Liberty Mutual
- Allianz SE
- AXA
- Assicurazioni Generali S.p.A (Generali Group)
- Unipoltech Solution Technology (Unipol Sai)
- Aioi Nissay Dowa Insurance (MS & AD Insurance Group Holdings, Inc.)
- MAPFRE
- Octo Telematics
- Targa Telematics
- CMT (Cambridge Mobile Telematics)
- IMS
- CCC
- LexisNexis Risk Solutions
- Verisk Analytics
- Zendrive