1 INTRODUCTION 19
1.1 OBJECTIVES 19
1.2 PRODUCT DEFINITION 19
1.2.1 INCLUSIONS & EXCLUSIONS 20
1.3 MARKET SCOPE 20
1.4 LIMITATIONS 21
1.5 STAKEHOLDERS 21

2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.2 SECONDARY DATA 24
2.2.1 KEY SECONDARY SOURCES FOR VEHICLE SALES 24
2.2.2 KEY SECONDARY SOURCES FOR MARKET SIZING 24
2.2.3 KEY DATA FROM SECONDARY SOURCES 25
2.3 PRIMARY DATA 25
2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS 26
2.3.2 PRIMARY PARTICIPANTS 27
2.4 MARKET SIZE ESTIMATION 27
2.4.1 BOTTOM-UP APPROACH: USAGE-BASED INSURANCE MARKET 28
2.4.2 TOP-DOWN APPROACH: USAGE-BASED INSURANCE MARKET 28
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION 29
2.6 ASSUMPTIONS & ASSOCIATED RISKS 30

3 EXECUTIVE SUMMARY 32

4 PREMIUM INSIGHTS 35
4.1 ATTRACTIVE OPPORTUNITIES IN THE USAGE-BASED INSURANCE MARKET 35
4.2 USAGE-BASED INSURANCE MARKET, BY REGION 36
4.3 USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE 36
4.4 USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE 37
4.5 USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE 37
4.6 USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY 38
4.7 USAGE-BASED INSURANCE MARKET, BY DEVICE OFFERING 38
4.8 USAGE-BASED INSURANCE MARKET, BY ELECTRIC & HYBRID VEHICLE 39
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5 MARKET OVERVIEW 40
5.1 INTRODUCTION 40
5.2 YEARS CONSIDERED FOR THE STUDY 41
5.3 MARKET DYNAMICS 41
5.3.1 DRIVERS 42
5.3.1.1 Increasing adoption of telematics and connected cars 42
5.3.1.2 Reduction in insurance premium and risk-related costs 43
5.3.2 RESTRAINTS 43
5.3.2.1 Ambiguity over regulations and legislative environments 43
5.3.3 OPPORTUNITIES 44
5.3.3.1 Developing automotive usage-based insurance ecosystem 44
5.3.4 CHALLENGES 44
5.3.4.1 Data privacy 44
5.3.4.2 Lack of standardized systems 45
5.4 REVENUE MISSED: OPPORTUNITIES FOR USAGE-BASED INSURANCE PROVIDERS 45
5.4.1 REVENUE SHIFT DRIVING MARKET GROWTH 46
5.5 USAGE-BASED INSURANCE MARKET, SCENARIOS (2018–2027) 46
5.5.1 USAGE-BASED INSURANCE MARKET, MOST LIKELY SCENARIO 46
5.5.2 USAGE-BASED INSURANCE MARKET, OPTIMISTIC SCENARIO 47
5.5.3 USAGE-BASED INSURANCE MARKET, PESSIMISTIC SCENARIO 47

6 IMPACT ANALYSIS 48
6.1 INTRODUCTION 48
6.2 RIDE SHARING 49
6.3 AUTONOMOUS VEHICLES 50

7 USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE 52
7.1 INTRODUCTION 53
7.1.1 RESEARCH METHODOLOGY 53
7.1.2 ASSUMPTIONS/LIMITATIONS 53
7.1.3 INDUSTRY INSIGHTS 54
7.2 PAY-AS-YOU-DRIVE (PAYD) 55
7.2.1 COST EFFECTIVENESS AND FASTER CLAIMS SETTLEMENT TO DRIVE
THE PAYD MARKET 55
7.3 PAY-HOW-YOU-DRIVE (PHYD) 56
7.3.1 INCREASING SALES OF VEHICLES EQUIPPED WITH TELEMATICS WILL DRIVE THE PHYD MARKET 56
7.4 MANAGE-HOW-YOU-DRIVE (MHYD) 57
7.4.1 EXISTING MATURE MARKETS IN NORTH AMERICA AND EUROPE WILL DRIVE THE MHYD MARKET 57
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8 USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY 58
8.1 INTRODUCTION 59
8.1.1 RESEARCH METHODOLOGY 59
8.1.2 ASSUMPTIONS/LIMITATIONS 59
8.1.3 INDUSTRY INSIGHTS 60
8.2 OBD-II 61
8.2.1 HIGH RELIABILITY AND CUSTOMER ACCEPTANCE WILL DRIVE
THE OBD-II MARKET 61
8.3 SMARTPHONE 62
8.3.1 COST EFFECTIVENESS AND USER CONVENIENCE WILL DRIVE
THE SMARTPHONE MARKET 62
8.4 EMBEDDED SYSTEM 63
8.4.1 INCREASING NUMBER OF CONNECTED CARS WILL DRIVE THE EMBEDDED SYSTEM MARKET 63
8.5 BLACK BOX 64
8.5.1 INCREASING DEMAND FOR INSURANCE TELEMATICS WILL DRIVE THE BLACK BOX MARKET 64
8.6 OTHER TECHNOLOGIES 65
8.6.1 INCREASING AWARENESS ABOUT AUTO INSURANCE AND GOVERNMENT POLICIES WILL DRIVE THE MARKET FOR OTHER TECHNOLOGIES 65

9 USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE 66
9.1 INTRODUCTION 67
9.1.1 RESEARCH METHODOLOGY 67
9.1.2 ASSUMPTIONS/LIMITATIONS 67
9.1.3 INDUSTRY INSIGHTS 68
9.2 LIGHT-DUTY VEHICLE (LDV) 69
9.2.1 ADVANCEMENTS IN CONNECTED CAR TECHNOLOGIES AND TELEMATICS SERVICES WILL DRIVE THE LDV MARKET 69
9.3 HEAVY-DUTY VEHICLE (HDV) 70
9.3.1 NEW PRODUCT OFFERINGS AND INCREASING SALES OF HDVS WILL DRIVE THE HDV UBI MARKET 70

10 USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE 71
10.1 INTRODUCTION 72
10.1.1 RESEARCH METHODOLOGY 72
10.1.2 ASSUMPTIONS/LIMITATIONS 72
10.1.3 INDUSTRY INSIGHTS 73
10.2 NEW VEHICLES 74
10.2.1 INCREASING SALES OF VEHICLES WITH TELEMATICS WILL DRIVE THE NEW VEHICLES UBI MARKET 74
10.3 ON-ROAD VEHICLES 75
10.3.1 GROWING AWARENESS AND TECHNOLOGICAL ADVANCEMENTS WILL DRIVE THE ON-ROAD VEHICLES UBI MARKET 75

11 USAGE-BASED INSURANCE MARKET, BY DEVICE OFFERING 76
11.1 INTRODUCTION 77
11.1.1 RESEARCH METHODOLOGY 77
11.1.2 ASSUMPTIONS/LIMITATIONS 77
11.1.3 INDUSTRY INSIGHTS 77
11.2 BRING YOUR OWN DEVICE (BYOD) 78
11.2.1 HIGH CONVENIENCE AND DEMAND FOR SMARTPHONE UBI TECHNOLOGY WILL DRIVE THE BYOD UBI MARKET 78
11.3 COMPANY PROVIDED 79
11.3.1 INCREASING NUMBER OF VEHICLES WITH ADVANCED SAFETY FEATURES WILL DRIVE THE COMPANY PROVIDED UBI MARKET 79

12 USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE 80
12.1 INTRODUCTION 81
12.1.1 RESEARCH METHODOLOGY 81
12.1.2 ASSUMPTIONS/LIMITATIONS 81
12.1.3 INDUSTRY INSIGHTS 82
12.1.4 ELECTRIC & HYBRID VEHICLE SALES DATA 82
12.2 BATTERY ELECTRIC VEHICLE (BEV) 83
12.2.1 INCREASING BEV SALES AND OPPORTUNITIES TO REDUCE AVERAGE PREMIUM WILL DRIVE THE BEV MARKET 83
12.3 HYBRID ELECTRIC VEHICLE (HEV) 84
12.3.1 ATTRACTIVE GOVERNMENT POLICIES TO PROMOTE HYBRID VEHICLES WILL DRIVE THE HEV MARKET 84
12.4 PLUG-IN HYBRID VEHICLE (PHEV) 85
12.4.1 INCREASING SALES OF PHEV EQUIPPED WITH TELEMATICS WILL DRIVE THE PHEV MARKET 85

13 USAGE-BASED INSURANCE MARKET, BY REGION 86
13.1 INTRODUCTION 87
13.1.1 RESEARCH METHODOLOGY 87
13.1.2 ASSUMPTIONS/LIMITATIONS 87
13.1.3 INDUSTRY INSIGHTS 88
13.2 ASIA OCEANIA 89
13.2.1 CHINA 90
13.2.1.1 Increasing focus on IoT will drive the UBI market 90
13.2.1.2 China vehicle sales data 90
13.2.1.3 China non-life insurance companies 91
13.2.2 JAPAN 92
13.2.2.1 Increasing number of vehicles with OE-fitted telematics unit will drive the UBI market 92
13.2.2.2 Japan vehicle sales data 92
13.2.2.3 Japan non-life insurance companies 92
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13.2.3 SOUTH KOREA 93
13.2.3.1 Presence of robust telecommunications infrastructure and mobile communications technology will drive the UBI market 93
13.2.3.2 South Korea vehicle sales data 93
13.2.3.3 South Korea non-life insurance companies 94
13.2.4 INDIA 95
13.2.4.1 Increasing sales of vehicles with telematics unit will drive the
UBI market 95
13.2.4.2 India vehicle sales data 95
13.2.5 REST OF ASIA OCEANIA 96
13.2.5.1 Rest of Asia Oceania vehicle sales data 96
13.3 EUROPE 97
13.3.1 ITALY 99
13.3.1.1 Presence of major UBI providers will drive the UBI market 99
13.3.1.2 Italy vehicle sales data 99
13.3.1.3 Italy non-life insurance companies 99
13.3.2 UK 100
13.3.2.1 Demand for connected cars will drive the UBI market 100
13.3.2.2 UK vehicle sales data 100
13.3.2.3 UK non-life insurance companies 101
13.3.3 GERMANY 102
13.3.3.1 New telematics-based product launches will drive the UBI market 102
13.3.3.2 Germany vehicle sales data 102
13.3.3.3 Germany non-life insurance companies 102
13.3.4 FRANCE 103
13.3.4.1 Increasing demand for fleet management will drive the UBI market 103
13.3.4.2 France vehicle sales data 104
13.3.4.3 France non-life insurance companies 104
13.3.5 SPAIN 105
13.3.5.1 High penetration of telematics in LCV fleet will drive the UBI market 105
13.3.5.2 Spain vehicle sales data 105
13.3.6 RUSSIA 106
13.3.6.1 Increasing demand for safety features such as anti-theft to drive the UBI market 106
13.3.6.2 Russia vehicle sales data 106
13.3.7 REST OF EUROPE 107
13.3.7.1 Emerging start-ups in telematics will drive the UBI market 107
13.3.7.2 Rest of Europe vehicle sales data 107
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13.4 NORTH AMERICA 109
13.4.1 US 110
13.4.1.1 Growing popularity of mobile telematics will drive the UBI market 110
13.4.1.2 US vehicle sales data 110
13.4.1.3 US non-life insurance companies 111
13.4.2 CANADA 112
13.4.2.1 Presence of UBI insurance providers will drive the UBI market 112
13.4.2.2 Canada vehicle sales data 112
13.4.2.3 Canada non-life insurance companies 112
13.4.3 MEXICO 114
13.4.3.1 Increasing sales of premium vehicles will drive the UBI market 114
13.4.3.2 Mexico vehicle sales data 114
13.5 REST OF THE WORLD 115
13.5.1 BRAZIL 116
13.5.1.1 Popularity of embedded telematics will drive the UBI market 116
13.5.1.2 Brazil vehicle sales data 116
13.5.2 UAE 117
13.5.2.1 Government efforts to boost safety standards will drive the UBI market 117
13.5.2.2 UAE vehicle sales data 117
13.5.3 REST OF ROW 118
13.5.3.1 Growing vehicle fleet and demand for connected cars will drive the UBI market 118
13.5.3.2 Rest of RoW vehicle sales data 118

14 COMPETITIVE LANDSCAPE 119
14.1 OVERVIEW 119
14.2 USAGE-BASED INSURANCE MARKET: MARKET RANKING ANALYSIS 119
14.3 COMPETITIVE LEADERSHIP MAPPING 120
14.3.1 TERMINOLOGY 120
14.3.2 VISIONARY LEADERS 120
14.3.3 INNOVATORS 120
14.3.4 DYNAMIC DIFFERENTIATORS 120
14.3.5 EMERGING COMPANIES 121
14.4 COMPETITIVE LEADERSHIP MAPPING: USAGE-BASED INSURANCE PROVIDERS 121
14.4.1 STRENGTH OF PRODUCT PORTFOLIO 122
14.4.2 BUSINESS STRATEGY EXCELLENCE 123
14.5 COMPETITIVE LEADERSHIP MAPPING: TELEMATICS SERVICE PROVIDERS 124
14.5.1 STRENGTH OF PRODUCT PORTFOLIO 125
14.5.2 BUSINESS STRATEGY EXCELLENCE 126
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14.6 COMPETITIVE SCENARIO 128
14.6.1 NEW PRODUCT DEVELOPMENTS/LAUNCH 128
14.6.2 EXPANSION 129
14.6.3 ACQUISITION 129
14.6.4 PARTNERSHIPS/CONTRACTS 129
14.7 RIGHT TO WIN 130

15 COMPANY PROFILES 132
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
15.1 KEY PLAYERS 132
15.1.1 UNIPOLSAI ASSICURAZIONI S.P.A 132
15.1.2 PROGRESSIVE CASUALTY INSURANCE COMPANY 135
15.1.3 ALLSTATE INSURANCE COMPANY 138
15.1.4 STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY 141
15.1.5 LIBERTY MUTUAL INSURANCE COMPANY 143
15.1.6 AXA 146
15.1.7 ASSICURAZIONI GENERALI S.P.A. 149
15.1.8 ALLIANZ 151
15.1.9 WEBFLEET SOLUTIONS 154
15.1.10 VERIZON 157
*Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
15.2 OTHER KEY PLAYERS 159
15.2.1 NORTH AMERICA 159
15.2.1.1 Nationwide Mutual Insurance Company 159
15.2.1.2 Zubie, Inc 159
15.2.1.3 Cambridge Mobile Telematics 159
15.2.1.4 Modus Group, LLC 160
15.2.1.5 Metromile Inc. 160
15.2.1.6 Amica 160
15.2.1.7 Sierra Wireless 160
15.2.2 EUROPE 161
15.2.2.1 Octo Group S.p.A 161
15.2.2.2 Trak global group 161
15.2.2.3 Insure The Box limited 161
15.2.2.4 MAPFRE 162
15.2.2.5 The Floow 162
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16 RECOMMENDATIONS BY MARKETSANDMARKETS 163
16.1 NORTH AMERICA WILL BE THE MAJOR MARKET FOR USAGE-BASED INSURANCE 163
16.2 MANAGE-HOW-YOU-DRIVE AND PAY-HOW-YOU-DRIVE CAN BE KEY PLANS FOR INSURANCE SERVICE PROVIDERS 163
16.3 CONCLUSION 164

17 APPENDIX 165
17.1 PACKAGE SIZE 165
17.2 CURRENCY & PRICING 165
17.3 KEY INSIGHTS OF INDUSTRY EXPERTS 166
17.4 DISCUSSION GUIDE 166
17.5 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 170
17.6 AVAILABLE CUSTOMIZATIONS 172
17.6.1 USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, BY COUNTRY 172
17.6.1.1 Light-duty vehicle 172
17.6.1.2 Heavy-duty vehicle 172
17.6.2 USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, BY VEHICLE AGE,
BY REGION 172
17.6.2.1 Asia Oceania 172
17.6.2.2 Europe 172
17.6.2.3 North America 172
17.6.2.4 RoW 172
17.6.3 USAGE-BASED INSURANCE MARKET, BY ELECTRIC & HYBRID VEHICLE TYPE, BY COUNTRY 172
17.6.4 USAGE-BASED INSURANCE MARKET, BY OFF-HIGHWAY VEHICLE TYPE,
BY REGION 172
17.6.4.1 Construction 172
17.6.4.2 Agriculture 172
17.7 RELATED REPORTS 173
17.8 AUTHOR DETAILS 174