Usage-Based Insurance Market is Expected to Generate Huge Profits by 2021 – 2026

Advance Market Analytics published a new research publication on “Usage-Based Insurance Market Insights, to 2026” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market stakeholders. The growth of the Usage-Based Insurance market is mainly driven by the increasing R&D spending across the world.

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Scope of the Report of Usage-Based Insurance

Usage-based insurance (UBI), also referred to as pay-per-mile or pay-as-you-drive is a type of auto insurance which depends on the specific insurer’s program, can measure how far a vehicle is driven, where it’s driven or how it’s driven. It is often operated by telematics, a technology which is available in vehicles using a plug-in device or is pre-installed in the car’s network, but can also be available through mobile applications. It provides insurers a range of data, from how drivers are braking and accelerating to their speeds, where they’re driving, and for how long they’re behind the wheel. The data collected gets sent to an insurance corporation, which can keep the track of distance driven for the basic pay-as-you-go insurance, or more generally assess the risk profile of a particular driver in order to reward safer drivers with discounts on their insurance.

Some of the key players profiled in the study are:

Allianz SE (Germany),AXA S.A. (France),Insure The Box Ltd (United Kingdom),Progressive Corporation (United States),Allstate Corporation (United States),Generali Group (Italy),Mapfre S.A. (Spain),Metromile (United States),Aviva plc. (United Kingdom),Ageas (Belgium),

The titled segments and sub-section of the market are illuminated below:

Type (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)), Vehicle (Light Duty Vehicles (LDV), Heavy Duty Vehicles (HDV)), Technology (OBD-II, Smartphone, Hybrid, Black-Box)

The Usage-Based Insurance Market report provides a basic overview of the industry including its definition, geography segment, end use/application segment and competitor segment and manufacturing technology. Then, the report explores the international major industry players in detail.

Market Trends:

Timely and Accurate Data Collection

Rising Permeation of Smartphones Integrated With Vehicle Connectivity Systems

Market Drivers:

Increasing Adoption of Telematics

Decline in Insurance Premium and Risk-Related Costs

Lesser Accident and Vehicle Theft Possibilities

Challenges:

Data Privacy Concerns and Quality Issues

Absence of Standardized Systems

Opportunities:

Growth of the Automobile Industry in Developing Countries

Technological Advancement in Usage-Based Insurance

Rising Concerns Regarding Driver Safety

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

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Strategic Points Covered in Table of Content of Usage-Based Insurance Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Usage-Based Insurance market

Chapter 2: Exclusive Summary – the basic information of the Usage-Based Insurance Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Usage-Based Insurance

Chapter 4: Presenting the Usage-Based Insurance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region

Chapter 6: Evaluating the leading manufacturers of the Usage-Based Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

Research Methodology:

• The top-down and bottom-up approaches are used to estimate and validate the size of the global Usage-Based Insurance
• In order to reach an exhaustive list of functional and relevant players who offer Usage-Based Insurance various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies.
• Thereafter, a thorough validation test is conducted to reach most relevant players specifically having product line i.e. Usage-Based Insurance.
• In order to make priority list sorting is done based on revenue generation as per latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
• Finally, the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment. This helps us to gather the data for the players’ revenue, profit, products, growth etc.
• Almost 80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, Annual reports, press releases etc.

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Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

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