Usage-Based Insurance Market Expected to Garner $123 billion by 2022, Registering a CAGR of 36.4% | Allianz SE, AXA S.A., Insure The Box, Progressive, Allstate, Desjardins Insurance, Generali group

Usage-Based Insurance Market is expected to garner $123 billion by 2022, registering a CAGR of 36.4% during the forecast period 2016-2022. Factors driving the usage-based insurance market include flexible insurance premium, lower accident & vehicle theft possibilities, accurate & timely data collection, and lower fuel consumption.

Usage-based insurance (UBI) is a telematics-based insurance service in which premiums are based on driving behavior of consumers. Type of road used, braking, and cornering pattern are amongst the factors according to which the premiums are charged. Usage-based insurance includes different services such as pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD).

Top Companies Covered in this Report:
Allianz SE, AXA S.A., Insure The Box Ltd., Progressive Corporation, Allstate Corporation, Desjardins Insurance, Generali group, Mapfre S.A., Metromile, and Aviva plc. Other players in the value chain include Admiral Group Plc., Ageas S.A. /NV, AI Insurance Holdings Pty Ltd., Aioi Nissay Dowa Insurance (ADI), Allstate Corporation, and Box Innovation Group

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The global usage-based insurance market is segmented based on type, technology, and geography. The segmentation by type includes pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). On the basis of technology, the market is divided into OBD-II, smartphone, hybrid, and black-box.

Manage-how-you-drive (MHYD) segment is anticipated to grow at the fastest rate during the forecast period, as it provides higher level of flexibility and freedom to the customers. In terms of technology, Black Box dominates the market, accounting for over 60% of the total market revenue. From a growth perspective, smartphone technology is projected to exhibit the highest CAGR over the forecast period.

Geographically, the market is classified into North America (U.S. and Rest of North America), Europe (Italy, UK, Germany, France and Rest of Europe) Asia-Pacific (Japan, Australia and Rest of Asia-Pacific), and LAMEA (Africa and Rest of LAMEA). Presently, Europe is the highest Usage-based insurance market, compared to other geographies.

European countries such as Italy, have high adoption of Usage-based insurance trend. In 2015, Italy usage-based insurance market accounted for one-third of the global usage-based insurance market revenue. The industry in the country is expected to grow at a CAGR of 33.6% during 2016-2022.

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Fundamentals of Table of Content:

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type       
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Usage-Based Insurance Market Size
2.2 Usage-Based Insurance Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Usage-Based Insurance Market Size by Manufacturers
3.2 Usage-Based Insurance Key Players Head office and Area Served
3.3 Key Players Usage-Based Insurance Product/Solution/Service
3.4 Date of Enter into Usage-Based Insurance Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Usage-Based Insurance Sales by Product
4.2 Global Usage-Based Insurance Revenue by Product
4.3 Usage-Based Insurance Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Usage-Based Insurance Breakdown Data by End User

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This release was published on openPR.