The United States is among the fastest growing markets for insurance telematics, and 60 percent of large insurers offer either mileage-based or driving-behavior based discounts, according to “Telematics-based Insurance - Two Tiered Proposition is increasingly becoming a key Tool for OEMs to decrease Cost of Ownership Issues for Customers,” from Frost & Sullivan, a business consulting firm.
Also, the number of UBI subscribers is expected to double in the next three years in both Europe and North America. Beyond that, the research projects even sharper growth trends, with Europe remaining consistently ahead of North America. By 2020, researchers expect Europe to be approaching 24 million subscribers, with North America floating around the 20 million-subscribers mark. These projections aren't quite as gaudy as those asserted in ABI Research's latest figures, but they point to the same potential for growth.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access