By the year 2020, over half of all auto policies may use UBI devices for premiums calculations. The results of a research study performed by Strategy Meets Action has revealed predictions that by the year 2020, one fifth of all insurers will have usage based insurance products that will cover over half of the entire personal auto coverage market. It indicated that there would be a very rapid growth in this sector of the industry. The name of the SMA study was “Telematics/Usage Based Insurance: A Catalyst for Change”. The…
Read MoreUsage based insurance may reach 50 percent in 8 years
