Fewer than one-third (30 percent) of insurers have no current plan all to offer insurance telematics, according to “Telematics/Usage-Based Insurance: Insurer Priorities and Plans,” from Strategy Meets Action. And while 70 percent of those surveyed are in some stage of planning, piloting or implementation of a telematics program, just 18 P&C insurers have an active UBI program in more than one state or province.
“2012 was a breakthrough year for UBI as Progressive brought it to the mass market in the [United States]. 2013 is likely to be characterized by a rapid expansion of the number of companies offering UBI options to their customers,” said Richard Welch, SMA Guest Author.
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