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Automotive Usage-Based Insurance (UBI) Market – Analysis and Forecast (2021-2027

On the basis of technology, the global automotive usage-based insurance (UBI) market is segmented into black box, OBD-II, embedded, smartphone and others. Amongst these segments, embedded segment is expected to witness highest CAGR during the forecast period as it is considered to be an effective system for capturing data and do not require any form of external calibration in order to register data.

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Automotive Usage-Based Insurance (UBI) Market – Analysis and Forecast (2021-2027

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  1. Global Automotive Usage-Based Insurance (UBI) Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Automotive Usage-Based Insurance (UBI) Market The global automotive usage-based insurance (UBI) market is estimated to be USD 40.3 billion in 2020 and is predicted to reach USD 95.7 billion by 2027, growing at a CAGR of 18.8 % during the forecast period. The growth of this market is attributed towards acceptance of shifting trends observed amongst insurance providers towards remote diagnostics. The amalgamation of usage-based structure along with remote diagnostics solutions are thus facilitating business organizations to distinguish offers thereby providing them competitive advantage and further enhancing the customer base of the enterprises. In order to align insurance premium rates in order to decrease fraudulent insurance claims there are various factors that facilitate insurance service providers to align premium rates of the insurance efficiently. These factors include acceleration & braking patterns, total miles driven, on-road vehicle location (GPS or Global Positioning System), airbag usage and the time of day thereby significantly contributing towards the growth of global automotive usage-based insurance (UBI) market.

  4. Global Automotive Usage-Based Insurance (UBI) Market Extensive adoption of connected cars and telematics along with decreasing insurance premium along with risk related costs is another factor pertaining towards the growth of global automotive usage-based insurance (UBI) market. These systems utilizes advance machine-to-machine techniques that helps in collecting data from in-car vehicles that enables insurance providers to further adjust and set premiums based upon individual’s driving behavior rather than having any history to claim. Geographically, North America is the largest revenue contributor in automotive usage-based insurance market due to high popularity of mobility as a service along with extensive collaborations between insurance and telematics companies. Furthermore, these companies are enhancing their solution offers and are providing improved schemes and packages to the insurance providers.

  5. Global Automotive Usage-Based Insurance (UBI) Market UnipolSaiAssicurazioni S.p.A, Danlaw, AssicurazioniGenerali S.P.A, Allianz SE, Mapfre, S.A, Desjardins Group, Octo Technology Nationwide, Cambridge Mobile Telematics, Liberty Mutual Insurance, Progressive Casualty Insurance Company, Allstate Insurance Company, Intelligent Mechatronic Systems Inc., Vodafone Automotive S.p.A, State Farm Mutual Automobile Insurance Company, Metromile Inc., AXA, TomTom International BV, Sierra Wireless, Zubie, Inc., and Insure The Box Limited.

  6. For Sample Report :- https://www.vynzresearch.com/automotive-transportation/automotive-usage-based-insurance-ubi-market/request-sample www.vynzresearch.com

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