Europe Usage Based Insurance Market 2019 Trends and Review by Quantitative Analysis, Comprehensive Landscape and Future Growth by 2026 - key Players are Mitsui Sumitomo Insurance Co. (Europe) Ltd, AXA UK, Ageas UK, Liberty Mutual Insurance Europe Limited
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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Under market segmentation, research and analysis is done based on application, vertical, deployment model, end user, and geography. Competitive analysis studied in this Europe Usage Based Insurance market report assists to get ideas about the strategies of key players in the market. The key research methodology used here by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Europe Usage Based Insurance market report gives information about company profile, product specifications, capacity, production value, and market shares for each company for the year 2019 to 2019 under the competitive analysis study.
Table of Content: Europe Usage Based Insurance Market
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
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
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Market Segmentation: Europe Usage Based Insurance Market
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 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 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
Key Competitors: 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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