Telematics and Usage-Based Insurance: Notable Players in an Evolving Market
Report Summary
Telematics and Usage-Based Insurance: Notable Players in an Evolving Market
With telematics and UBI, something mainstream this way comes.
Boston, August 13, 2014 – At once game-changing and inconspicuous, usage-based insurance allows insurers to more granularly price insurance risk by using real-world information about how a policyholder behaves behind the wheel. The combination of broader consumer acceptance and more ubiquitous technology has created a groundswell of UBI offerings that work via connected devices and associated apps that leverage telematics. Together, UBI and telematics will soon be firmly ensconced in many North American carriers' product and services tool kits, acting as a bridge to the future of insurance.
Based primarily on information garnered from six leading providers of insurance telematics or UBI solutions, this Impact Note plumbs the future of telematics and UBI and profiles the following technology services solution providers—Danlaw, Intelligent Mechatronics Systems, LexisNexis Risk Solutions, Modus Group, Octo Telematics, and Verisk Analytics Telematics.
This 24-page Impact Note contains four figures. Clients of Aite Group's P&C Insurance service can download this report.