UBI Market Report 2026: AXA, Cambridge Mobile Telematics, Danlaw, Inc., Desjardins Group, Insure The Box Limited, Intelligent Mechatronic Systems Inc., Liberty Mutual Insurance, Mapfre, S.A., Metromile Inc., Nationwide, Octo Technology

PHYD insurance package segment had accounted for more than 70% of global UBI market share on account of the rising popularity of the model among customers for the reduction of insurance premiums. Integration of various connected services like theft insurance and vehicle wellness programs along with PHYD packages shall support the growth of the market in the future and impact usage-based insurance trends.

Usage-based insurance (UBI) has been helping insurance companies to promote safe driving habits in young customers. The system is being widely explored to offer drivers rewards and incentives for adequate maintenance of cars and responsible driving, which will foster UBI market over the coming years.

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There is an increase in the uptake of UBI platforms by various insurance companies so that they are able to track the driving patterns accurately and align the insurance premium with the estimated risks. The insurance companies are seen partnering with few solution providers to help increase the

For example, Car Security had adopted CalAmp’s telematics technology stack as well as the CrashBox platform for vehicle risk management services in 2017. This was done to streamline the connected car offerings. According to the partnership, CalAmp is supposed to provide telematic tools for the optimization of the claim management process to the insurance companies.

Customers have been largely benefitting from the telematics solutions that are installed in their vehicles and connected to their smartphones to be able to evaluate their driving style as well as make necessary modifications for the reduction of high premiums. Insurance companies have begun collaborating with software solution providers to be able to provide telematics insurance programs based on smartphones to remain competitive.
The NJM Insurance Group had selected IMS for the new insurance telematics program based on smartphones in 2018. NJM utilizes smartphone telematics of IMS for the promotion of safety among the consumers by offering rewards to the safe drivers as well as applying driver scoring. The smartphone technology segment will observe a massive growth, registering more than 35% CAGR over 2019-2026 owing to the rapid adoption of the smartphone devices and its easy to use properties.

As per a report the European Commission had published in 2017, about 90% of the sales of new cars in 2020 shall include embedded telematics packages. The passenger car segment had held a majority of the share, accounting for about 85% of total UBI market in 2018 owing to the accelerated sale of new passenger vehicles worldwide.

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Some Point from Table of Contents:

Chapter 5. UBI market, By Package
5.1. Key trends, by package
5.2. PHYD
5.2.1. PHYD market estimates and forecast, 2015-2026
5.3. PAYD
5.3.1. PAYD market estimates and forecast, 2015-2026
5.3.2. Device-based
5.3.2.1.1. Device-based market estimates and forecast, 2015-2026
5.3.3. Telematics-based
5.3.3.1.1. Telematics-based market estimates and forecast, 2015-2026
Chapter 6. UBI market, By Technology
6.1. Key trends, by technology
6.2. OBD-II
6.2.1. OBD-II market estimates and forecast, 2015-2026
6.3. Smartphone
6.3.1. Smartphone market estimates and forecast, 2015-2026
6.4. Black Box
6.4.1. Black Box market estimates and forecast, 2015-2026
6.5. Embedded telematics
6.5.1. Embedded telematics market estimates and forecast, 2015-2026

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