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Usage-based Insurance (UBI) Market Share

  • Report ID: GMI3020
  • Published Date: Nov 2022
  • Report Format: PDF
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Usage-based Insurance Market Share

Leading companies operating in the usage-based Insurance market are:

  • ARGO Data Resource Corporation
  • Allstate Insurance Company
  • Aviva plc
  • AXA Equitable Life Insurance Company 

These leaders have been bolstering their strategic associations as part of their key growth measures. For instance, in November 2022, Mobilize Financial Services teamed up with Accenture to create and manage the insurance platform from end to end. The platform aims to develop optimized and unique experiences across the entire customer journey, from sales and loyalty to the affirmations process, facilitated by an embedded insurance solution that leverages car connectivity.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of usage-based insurance crossed USD 45 billion in 2022 and is predicted to depict nearly 23.5% CAGR through 2032 driven by the burgeoning connected car sales and the increasing penetration of in-car technologies.

The PHYD (Pay How You Drive) segment accumulated more than 69% of the market share in 2022 owing to the increasing emphasis on ensuring driver safety and an accelerating consumer shift toward cheaper insurance premiums.

The OBD-II segment garnered over 47% of the revenue share in 2022 attributed to the rapid integration of telematics systems and the unbiased data collection services offered by OBD-technology.

The Europe UBI industry size is projected to exhibit around 24% CAGR through 2032 on the back of supportive government policies and a flourishing economic landscape.

Usage-based Insurance Market Scope

  • Usage-based Insurance Market Size
  • Usage-based Insurance Market Analysis
  • Usage-based Insurance Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 30
    • Tables & Figures: 424
    • Countries covered: 22
    • Pages: 220
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