The Future of Usage Based Insurance Image

The Future of Usage Based Insurance

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The Usage Based Insurance (UBI) subscriber base has finally broken through the 10 million barrier, mainly driven by adoption in the US and Italy, and now increasingly turning into a global phenomenon. While this milestone might still represent a turning point toward accelerating uptake, market adoption so far has been disappointing due to a range of inhibitors inclusing privacy concerns, lack of scalability of OBD approaches, low awareness and perceived value, and unclear future business models beyond early cost savings based on skimming low risk drivers are looming large. Moreover, the emergence of active safety and ADAS and in the future autonomous and driverless vehicles will reduce the relevance of UBI and force auto insurers to explore new opportunities such as corpoare liability coverage, big data analytics services and even cyber security monitoring and insurance solutions. 

Table of Contents

Table of Contents

  • 1. STATUS, MAIN TRENDS, OUTLOOK, AND ECOSYSTEM DYNAMICS
    • 1.1. Status of UBI
    • 1.2. Main Trends
    • 1.3. Ecosystem Dynamics
  • 2. THE FUTURE OF UBI AND AUTO INSURANCE IN AN AUTONOMOUS AND DRIVERLESS ERA
    • 2.1. Active Safety and ADAS
    • 2.2. Autonomous and Driverless Vehicles
    • 2.3. Insurance and Liability
    • 2.4. Auto Insurance and UBI: From Transformation to Disruption
  • 3. RECOMMENDATIONS
    • 3.1. Short-term Recommendations
    • 3.2. Long-term Recommendations
    • 3.3. Partnership Recommendations
  • 4. UBI FORECASTS