usage based insurance predictions Archives

Usage based insurance subscribers expected to double

June 24, 2013June 22, 2013 Julie Campbell

Over the next three years, there will be twice as many users of UBI auto policies in the United States and Europe. According to the latest data from Frost & Sullivan, a business consulting firm, sixty percent of large insurers in the United States are already offering usage based insurance telematics programs to provide discounts to their auto insurance customers who are safe drivers. The U.S. is seen as the fastest growing market for this type of coverage technology program. Among those auto insurance companies who are offering this type…

Usage based insurance programs are growing

December 20, 2012December 20, 2012 Julie Campbell

These changes may soon be altering the entire face of the auto coverage industry. A report has just been released that has indicated that approximately 75 percent of companies in the property casualty industry believe that usage based insurance (UBI) will create a significant shift in the auto coverage from the current situation through 2020. The report said that 70 percent of insurers are already involved in some level of UBI. The report was created by Strategy Meets Action (SMA), which is an insurance advisory firm. It stated that among…