Global Usage Insurance Market is expected to reach US$149.22 Billion, at CAGR +25% by 2028.
A type of insurance where the payable premium for the policy is directly linked with the usage of the insured product/service is termed as usage-based insurance or UBI. In the car insurance industry, UBI is also known as Telematics insurance.
Usage-based insurance is a type of car insurance that bases the cost of a policy on how safe a driver’s habits are. Data is collected by the driver’s vehicle and analyzed by the insurer, which then uses it to determine how much of a discount the driver is eligible to receive.
Usage-based insurance (UBI), also referred to as pay-per-mile, pay-as-you-drive, or pay-as-you-go, is a type of auto insurance that, depending on the specific insurer’s program, can measure how far a vehicle is driven, where it’s driven, and/or how it’s driven.
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The major players profiled in this report include:
- Insure the Box
- AllState Insurance Company
- State Farm
- Liberty Mutual
- Allianz SE
The report caters to various stakeholders in Usage Insurance Market industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts. Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics. Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Usage Insurance market.
Usage Insurance Market report offers comprehensive data and information about important market dynamics and growth parameters associated with segmentations.
- Black Box
- OBD Dongle
By Policy Type
- Pay-how-you-drive (PHYD)
- Pay-as-you-drive (PAYD)
- Manage-how-you-drive (MHYD)
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the Usage Insurance market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the Usage Insurance market in terms of revenue.
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The report offers an exhaustive geographical analysis of the Usage Insurance market, covering important regions, viz, North America, Europe, China and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
The emergence of the COVID-19 outbreak has brought an unprecedented impact on the market scenarios across several business sectors of the industries. However, this time shall pass soon. Increasing support from government administration, favorable initiatives from government, research institutes, clinics, and healthcare systems and several organizations can help in the fight against this COVID-19 pandemic.
- The report provides a qualitative and quantitative analysis of the current Market trends, forecasts, and market size from 2021 to 2028 to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the market.
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