Press release
Europe Usage Based Insurance Market Future Business Trends and Massive Industry Growth By 2026 - Key Players are Allianz, AXA, Progressive Insurance, Allstate, Mitsui Sumitomo Insurance Co. (Europe) Ltd, AXA UK, Ageas UK and others
Europe Usage Based Insurance Market Revenue and latest trends
Europe usage based insurance market is growing with the healthy CAGR of 18.6% in the forecast period of 2019 to 2026.
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Major Benefits of usage-based insurance:
Attracting low-risk drivers
Enhancing customer loyalty
Reducing claims costs
Increasing the number of potential touch-points per year
Providing personalized, revenue-generating, value-added services to insurance plans to serve customer interests more effectively
The simplest form of usage-based insurance bases the insurance costs simply on distance driven. However, the general concept of pay as you drive includes any scheme where the insurance costs may depend not just on how much you drive but how, where, and when one drives
Table of Content
Section 1 Europe Usage Based Insurance Definition
Section 2 Europe Usage Based Insurance Major Player Share and Market Overview
Section 3 Major Player Europe Usage Based Insurance Business Introduction
Section 4 Europe Usage Based Insurance Segmentation
Section 5 Europe Usage Based Insurance Market Segmentation (Type Level)
Section 7 Europe Usage Based Insurance Market Forecast
Section 8 Europe Usage Based Insurance Segmentation Type
Section 9 Europe Usage Based Insurance Segmentation Industry
Section 10 Europe Usage Based Insurance Cost Analysis
Section 11 Conclusion
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Market Segmentation: Europe Usage Based Insurance Market
Europe usage-based insurance market is segmented into six notable segments which are package type, vehicle type, device offering, technology, vehicle age and electric & hybrid vehicle.
On the basis of device offering, the market is segmented into company provided and bringyour own device (BYOD). The company provided market is growing at the CAGR of 18.0% in the forecast period of 2019-2026.
In June 2018, Cambridge Mobile Telematics (CMT) was awarded as best auto digital insurance product award from TU-Automotive Detroi for DriveWell. This award made Cambridge Mobile Telematics (CMT) more popular which increases the overall income of the company
On the basis of technology, the market is segmented into OBD-II, smartphone, embedded system, black box and others. In 2018, embedded system market is growing with the highest CAGR of 19.2% in the forecast period of 2019 to 2026.
In August 2017, Cambridge Mobile Telematics (CMT) has launched powerful smartphone telematics program for commercial fleets. This launch has improved employee safety, reduce the number of accidents and claims and increase operational efficiency and performance.
On the basis of package type, the market is segmented into pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). In 2019, the pay-as-you-drive (PAYD), market is growing at the CAGR of 18.8% in the forecast period of 2019-2026.
In November 2015, Intelligent Mechatronic Systems (IMS) was awarded for excellence in the innovative. This award made Intelligent Mechatronic Systems (IMS) more popular.
On the basis of vehicle type, the market is segmented into light-duty vehicle (LDV) and heavy-duty vehicles (HDV). In 2018, light-duty vehicle (LDV) market is growing with the highest CAGR of 19.1% in the forecast period of 2019 to 2026.
In March 2016, TrueMotion has acquired The Canary Project. Due to this acquisition, company has application developer for developing telematics application
On the basis of vehicle age, the market is segmented into new vehicles and on-road vehicles. In 2018, on-road vehicles market is growing with the highest CAGR of 19.0% in the forecast period of 2019 to 2026.
In September 2017, the company was awarded as the global pioneer in telematics insurance and champion for road safety by UK insurance sector This award made company more popular which further increases the overall sells
On the basis of electric and hybrid vehicle, the market is segmented into hybrid electric vehicle (HEV), plug-in hybrid vehicle (PHEV) and battery electric vehicle (BEV).In 2018 Battery Electric Vehicle (BEV) market is growing with the highest CAGR of 19.3% in the forecast period of 2019 to 2026.
In September 2017, the Progressive Company has introduced ELD Usage-Based Insurance Program for Commercial Truck Drivers. This launch extended the company’s service portfolio
All the data, statistics, and information collected in the report has been studied and analyzed with the demonstrated tools and techniques such as SWOT analysis and Porter's Five Forces analysis. The report provides a profound overview of product specification, technology, product type and production analysis considering major factors such as Revenue, Cost, Gross and Gross Margin. Europe Usage Based Insurance market report acts upon systematic gathering, recording and analysis of data for the concerns linked to the marketing of goods and services and thereby serve the Automotive industry with an excellent market research report. Granular market information assembled in this Europe Usage Based Insurance report will be helpful to A Europe Usage Based Insurance industry to take competent business decisions.
Key Vendors: Europe Usage Based Insurance
Allianz, AXA, Progressive Insurance, Allstate, Allstate Canada, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc, Ageas Group, Octo Telematics, TomTom Telematics, Liberty Mutual Insurance, Intelligent Mechatronic Systems – IMS, Mitsui Sumitomo Insurance Co. (Europe) Ltd, Watchstone Group plc, Allianz Australia, Aviva Canada, Allianz Asia Pacific, AXA Insurance Company, AXA US, Aviva Asia, AXA Italia, AXA UK, Ageas UK, Liberty Mutual Insurance Europe Limited
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About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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