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Usage-based Insurance Market Trends, Analysis & Forecast,2027

Apart from these factors, ongoing product developments in both developed and developing countries is also opening new growth opportunities for the business. To illustrate, in 2020, popular cloud native insurer, Edelweiss General Insurance rolled out Edelweiss SWITCH, a novel app-based Motor OD floater policy.

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Usage-based Insurance Market Trends, Analysis & Forecast,2027

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  1. Usage-based Insurance Market; Global Analysis, Industry Demand and Forecast to 2027

  2. Industry Insights: • Growth of usage-based insurance market is majorly attributed to the enormous expansion of automobile industry and increasing proclivity of consumers toward highly efficient smart vehicles. Moreover, widespread deployment of in-car technologies is also attracting more customers to UBI as they are showing willingness towards sharing their driving information for personalized insurance quotes. • Usage-based insurance (UBI), which is a type of auto insurance that measures how far a vehicle is driven, how it is driven and where it is driven, is gaining a wide prominence across the globe. Usage based insurance products are mostly powered by telematics and can also be available through mobile applications and offers data to insurers from how drivers are accelerating and braking the vehicle speeds to where they are driving and for how long.

  3. With increasing adoption, Usage-based Insurance market is projected to exhibit tremendous growth by recording a substantial valuation of more than USD 125 billion by 2027 • Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3020 • Apart from these factors, ongoing product developments in both developed and developing countries is also opening new growth opportunities for the business. To illustrate, in 2020, popular cloud native insurer, Edelweiss General Insurance rolled out Edelweiss SWITCH, a novel app-based Motor OD floater policy. • Speaking on technology, emergence of smartphone has made UBI services highly accessible and affordable to consumers. Increasing adoption of smartphone-based telematics applications that provide numerous vehicle parameters like driving behavior and fuel consumption, is positively influencing the industry landscape.

  4. Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/usage-based-insurance-ubi-market Chapter 6 Usage-based Insurance (UBI) Market, By Technology 6.1 Key trends, by technology 6.2 OBD-II 6.2.1 OBD-II market estimates and forecast, 2016- 2027 6.3 Smartphone 6.3.1 Smartphone market estimates and forecast, 2016- 2027

  5. 6.4 Black Box 6.4.1 Black Box market estimates and forecast, 2016- 2027 6.5 Embedded telematics 6.5.1 Embedded telematics market estimates and forecast, 2016- 2027 Chapter 7 Usage-based Insurance (UBI) Market, By Vehicle Type 7.1 Key trends, by vehicle type 7.2 Passenger vehicle 7.2.1 Market estimates and forecast, 2016- 2027 7.2.2 Market estimates & forecast, by technology, 2016- 2027

  6. Region: • Elaborating on the regional outlook, usage-based insurance market is witnessing significant expansion in Europe on account of stringent regulatory scenario regarding the usage of fuels and OBD requirements mandated by the European Commission. • In addition, strong presence of various automobile companies and their growing brand value and sales is also complementing the business expansion. According to the report, Europe Usage-based Insurance market is projected to observe an appreciable CAGR of over 20% through 2027.

  7. Key Players • Allianz SE • Allstate Insurance Company • ASSICURAZIONI GENERALI S.P.A. • AVIVA Plc • AXA • Cambridge Mobile Telematics

  8. Stay In Touch Social Media:

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