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Insurance Telematics in Europe and North America - 4th Edition

  • ID: 4767183
  • Report
  • Region: Europe, North America, United States
  • 274 pages
  • Berg Insight AB
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Europe and North America Reached 20.9 million Active Insurance Telematics Policies in 2018

FEATURED COMPANIES

  • Admiral Group
  • CCC Information Services
  • HDI Global
  • Meta System
  • Renault-Nissan
  • TomTom Telematics
  • MORE

What are the latest trends in the Insurance telematics market? The researcher estimates that the total number of insurance telematics policies in force on the European market reached 10.3 million at the end of 2018. Growing at a compound annual growth rate of 36.0 percent, the number of active insurance telematics policies in Europe is estimated to reach 47.9 million by 2023. In North America, the total number of insurance telematics policies in force is forecasted to increase from an estimated 10.6 million policies at the end of 2018 to reach 49.8 million policies by 2023. Get up to date with the latest industry trends in this new 270-page strategy report.

Insurance Telematics in Europe and North America is the fourth strategy report analysing the latest  developments on the insurance telematics market. 

This strategic research report provides you with 270 pages of unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.

Highlights from this report:

  • Insights from 30 new executive interviews with market leading companies.
  • Comprehensive overview of the insurance telematics value chain and key applications.
  • In-depth analysis of market trends and key developments.
  • Case studies of more than 60 insurance telematics initiatives.
  • Summary of the involvement of vehicle OEMs and mobile operators.
  • New data on vehicle populations in Europe and North America.
  • Market forecasts by country lasting until 2023.

This report answers the following questions:

  • What types of insurance telematics products are offered on the market?
  • Which are the leading providers of insurance telematics technology?
  • What business models are available for insurers entering the insurance telematics space?
  • Which are the dominant technology form factors on each market?
  • Which are the most successful insurance telematics programs today?
  • How are mobile operators approaching the insurance telematics market?
  • How are the vehicle OEMs involved in the ecosystem?
  • Which are the major drivers and barriers for insurance telematics adoption?
  • Which are the key future trends in this industry?

Who should buy this Report?

Insurance Telematics in Europe and North America is the foremost source of information about the insurance telematics markets in these regions. Whether you are a telematics vendor, insurance company, vehicle manufacturer, telecom operator, investor, consultant, or government agency, you will gain valuable insights from our in-depth research.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Admiral Group
  • CCC Information Services
  • HDI Global
  • Meta System
  • Renault-Nissan
  • TomTom Telematics
  • MORE

1 The automotive market 
1.1 The automotive market in Europe 
1.1.1 Vehicles in use and car density
1.1.2 New car registrations and leading manufacturers 
1.2 The automotive market in North America 
1.2.1 Vehicles in use and car parc density 
1.2.2 New car registrations and leading manufacturers 
1.3 Automotive insurance 
1.3.1 Basic insurance terminology and categorisations 
1.3.2 The fundamentals of automotive insurance 
1.3.3 Traditional automotive insurance risk rating and pricing criteria 
1.3.4 Developments of the actuarial toolbox for motor insurers 
1.4 The European automotive insurance market 
1.5 The North American automotive insurance market 

2 Insurance telematics solutions 
2.1 Introduction to insurance telematics 
2.1.1 The rationale for telematics-based insurance policy pricing 
2.1.2 Brief history of insurance telematics offerings 
2.2 Usage-based insurance and related concepts and applications 
2.2.1 Manual reporting 
2.2.2 Usage-based insurance telematics – PAYD, PHYD, MHYD, TBYB 
2.2.3 Continuous and time-limited telematics data recording 
2.2.4 Usage-based pricing vs. claims-related insurance telematics 
2.2.5 Personal lines and commercial lines insurance telematics 
2.2.6 Value-added services related to insurance telematics 
2.3 Insurance telematics infrastructure 
2.3.1 Vehicle segment 
2.3.2 Insurer segment 
2.3.3 End-user segment 
2.3.4 Network segment 
2.3.5 GNSS segment
2.4 Business models 
2.4.1 In-house development 
2.4.2 Leveraging telematics partners 
2.4.3 Underwriting without direct client interaction 

3 The European insurance telematics market 
3.1 Regional market characteristics 
3.1.1 Italy 
3.1.2 United Kingdom 
3.1.3 Spain 
3.1.4 Austria 
3.1.5 France 
3.1.6 Benelux 
3.1.7 Switzerland 
3.1.8 The Nordics 
3.1.9 Germany 
3.1.10 Eastern Europe 
3.2 Insurance telematics case studies 
3.2.1 Italian insurer UnipolSai reached almost 4 million active connections in 2018 
3.2.2 Generali continues to grow and surpasses 1.8 million active policyholders 
3.2.3 Smartphone-only solutions – a growth engine for Allianz’s telematics offerings
3.2.4 AXA offers its insurance telematics portfolio in multiple European countries 
3.2.5 Admiral Group has multiple insurance telematics programmes in Europe 
3.2.6 Insure The Box has sold 900,000 blackbox-based policies in the UK 
3.2.7 Direct Line Group uses a variety of sensors for gathering of telematics data 
3.2.8 Aviva adds a free dashcam feature to its Aviva Drive app in the UK 
3.2.9 Ingenie is developing a B2B platform 
3.2.10 Towergate’s iKube policies are powered by TomTom Telematics 
3.2.11 Fiat, Volkswagen and MINI work with Carrot Insurance and Trak Global 
3.2.12 Marmalade targets young drivers 
3.2.13 RSA offers UBI in the UK through MORE TH>N SM>RT WHEELS 
3.2.14 Coverbox offers PHYD to older drivers in the UK 
3.2.15 Autoline launches Chillidrive powered by Inzura 
3.2.16 Telefleet Insurance and Masternaut partner for fleet insurance 
3.2.17 By Miles offers PAYD in the UK 
3.2.18 Smartdriverclub offers telematics to older drivers 
3.2.19 PSA Finance UK offers telematics-based insurance to young drivers 
3.2.20 Renault-Nissan Alliance partners with The Floow 
3.2.21 Daimler Financial Services offers UBI in five European countries 
3.2.22 HUK-Coburg to launch a mass-market telematics-based product in 2019 
3.2.23 VHV’s Telematik Garant uses a 12V device with built-in connectivity 
3.2.24 German insurer Signal Iduna launches UBI based on TomTom OBD device 
3.2.25 Telefónica re-assesses its position on the insurance telematics market 
3.2.26 UNIQA SafeLine powered by Dolphin Technologies has a focus on safety 
3.2.27 Groupama in France has launched PHYD insurance 
3.2.28 Chipin pioneered insurance telematics in the Netherlands 
3.2.29 Spanish MAPFRE Group has also launched insurance telematics in the US 
3.2.30 ÖSA and Sparkassen Versicherung offer eCall services in Germany 
3.2.31 GDV launches eCall service with 46 participating German insurers 
3.2.32 Zavarovalnica Triglav works with Amodo to bring UBI to Eastern Europe 
3.2.33 PZU Group and Link4 have launched telematics programmes in Poland 
3.2.34 HDI Global has launched DiamondDrive in Germany 
3.2.35 Zurich is broadening its telematics offering 
3.2.36 Springworks powered Telia Sense is used by Folksam and Alka 
3.2.37 Paydrive offers UBI in Sweden powered by Scope Technology and Telia 

4 The North American insurance telematics market 
4.1 Regional market characteristics 
4.1.1 United States 
4.1.2 Canada 
4.2 Insurance telematics case studies 
4.2.1 Progressive launched its mobile programme in December 2016 
4.2.2 State Farm transitions to a smartphone solution using a Bluetooth beacon 
4.2.3 Allstate has surpassed 1.0 million active UBI policyholders 
4.2.4 Esurance’s DriveSense mobile app has grown significantly during 2018 
4.2.5 Liberty Mutual has a broad portfolio of telematics products 
4.2.6 Allstate’s subsidiary Arity expands its offering to external customers 
4.2.7 Desjardins offers smartphone app for insurance telematics in Canada 
4.2.8 Nationwide works with Octo Telematics, IMS, LexisNexis and TrueMotion 
4.2.9 Farmers offers insurance telematics for commercial lines powered by Modus
4.2.10 Travelers offers smartphone-based UBI powered by TrueMotion 
4.2.11 Toyota and Aioi Nissay Dowa form telematics insurance services company 
4.2.12 iA Financial Group is no longer active in telematics 
4.2.13 CAA offers MyPace and Connect powered by Octo Telematics 
4.2.14 Sprint is no longer actively pursuing insurance telematics 
4.2.15 Root Insurance is a smartphone-based insurance company 
4.2.16 Mobileye and Munich Re collaborate to reduce fleet accidents in the US 
4.2.17 Progressive has launched a usage-based insurance product using ELDs 
4.2.18 True Mileage uses NFC and works with Ohio Mutual Insurance Group 
4.2.19 VOXX offers insurance telematics via its connected car offerings 
4.2.20 Spireon plans to add insurance telematics to its connected car products 
4.2.21 State Auto has a broad telematics portfolio focusing on both UBI and claims
4.2.22 Hyundai, and Honda and GM OnStar joins Verisk Telematics Data Exchange
4.2.23 CMT powers multiple smartphone-based pilots across the US 
4.2.24 Intact has sold 453,000 UBI policies in Canada 
4.2.25 Metromile is licencing its platform to external insurers 

5 Market forecasts and trends 
5.1 Market analysis 
5.1.1 Insurance telematics policies and penetration in Europe and North America .
5.1.2 Form factor developments in Europe and North America 
5.2 Value chain analysis 
5.2.1 Insurance industry players 
5.2.2 Telematics industry players 
5.2.3 Automotive industry players 
5.2.4 Telecom industry players 
5.2.5 IT industry players 
5.2.6 Mergers and acquisitions in the insurance telematics space 
5.3 Market drivers and barriers 
5.3.1 Macroeconomic environment 
5.3.2 Regulatory environment 
5.3.3 Competitive environment 
5.3.4 Technology environment 
5.4 Future industry trends 
5.4.1 Continued broadening of the insurance telematics concept is expected 
5.4.2 Insurers will embrace both UBI and claims-related insurance telematics 
5.4.3 Form factor shift to favour mobile devices in the short term
5.4.4 Connected cars pave the way for mass-marketisation of insurance telematics
5.4.5 New data exchanges expected to make OEM data available to small insurers
5.4.6 Commercial applications to grow alongside personal lines insurance telematics
5.4.7 Privacy concerns are softening across customer segments 
5.4.8 Big Data: Ownership and portability of telematics data to be scrutinised 
5.4.9 Insurance telematics aims to reduce distracted driving 
5.4.10 Mobility trends provide new opportunities for telematics-based insurance 
5.4.11 Vehicle diagnostics data from connected cars can create value for insurers 
5.4.12 Outlook: Insurance telematics is growing rapidly in other regions
5.4.13 Pay-per-mile insurance programmes are resurging 
5.4.14 Insurers to explore other IoT verticals 
5.4.15 The importance of consumer engagement rises rapidly 
5.4.16 Autonomous cars alter the playing field for motor insurance 

6 Company profiles and strategies 
6.1 Agero 
6.2 Agnik 
6.3 Amodo 
6.4 Baseline Telematics 
6.5 Bosch Connected Devices and Solutions 
6.6 CalAmp 
6.7 Cambridge Mobile Telematics 
6.8 CCC Information Services 
6.9 DriveQuant 
6.10 Dolphin Technologies 
6.11 FairConnect (Infomobility) 
6.12 Greater Than 
6.13 IMETRIK Global 
6.14 Intelligent Mechatronic Systems (Trak Global Group) 
6.15 Insure Telematics Solutions 
6.16 Inzura 
6.17 LexisNexis 
6.18 Meta System 
6.19 Mobile Devices 
6.20 Modus 
6.21 MyDrive Solutions 
6.22 Octo Telematics 
6.23 Quartix 
6.24 Redtail Telematics 
6.25 Scope Technology 
6.26 Targa Telematics 
6.27 Teletrac Navman 
6.28 The Floow 
6.29 TomTom Telematics 
6.30 Trak Global 
6.31 Trakm8 
6.32 TrueMotion 
6.33 Verisk Analytics 
6.34 Viasat Group 
6.35 Vodafone Automotive 
6.36 Zendrive 

Index

List of Figures
Figure 1.1: Vehicles in use (EU23+2 2017) 
Figure 1.2: Passenger car density per 1,000 inhabitants (EU28 2016) 
Figure 1.3: Passenger car registrations by manufacturer (EU+EFTA 2017) 
Figure 1.4: Vehicles in use (North America 2017) 
Figure 1.5: Passenger car registrations by manufacturer (North America 2017) 
Figure 1.6: Motor insurance statistics (EU23+2 2017) 
Figure 2.1: Distribution of fatal crashes by day of week and time of day (US 2016) 
Figure 2.2: Subcategories of usage-based insurance and insurance telematics 
Figure 2.3: Schematic classification of usage-based & claims-focused insurance telematics 
Figure 2.4: Insurance telematics infrastructure overview 
Figure 2.5: Examples of principal insurance telematics form factors 
Figure 2.6: Examples of feedback from Progressive’s smartphone app Snapshot 
Figure 2.7: Example of a windscreen-mounted Bluetooth device from CMT 
Figure 2.8: GDV-Stecker 12 V device provided by Bosch 
Figure 2.9: Folksam’s in-cabin driver feedback device. 
Figure 2.10: Schematic insurance telematics risk rating process 
Figure 2.11: Web- and smartphone-based interfaces and dashboards for end-users 
Figure 2.12: Mobile network operators in Europe and North America (2018) 
Figure 2.13: Europe cellular IoT connectivity market data (Q4-2018) 
Figure 2.14: North America cellular IoT connectivity market data (Q4-2018) 
Figure 2.15: Telematics strategies for insurance providers 
Figure 3.1: Growth of insurance telematics at Generali (2012–2018) 
Figure 3.2: Allianz’s top telematics markets (Q4-2018) 
Figure 3.3: Overview of the Your Portal interface for insurethebox policyholders 
Figure 3.4: Direct Line’s reward app Shotgun 
Figure 3.5: 12V device from VHV 
Figure 3.6: User interface and OBD device of Sijox’s AppDrive powered by TomTom 
Figure 3.7: Chipin’s OBD device 
Figure 3.8: HDI’s DiamondDrive app 
Figure 4.1: Progressive’s Snapshot OBD-II telematics device supplied by Xirgo 
Figure 4.2: State Farms’s Bluetooth-beacon enhanced smartphone app 
Figure 4.3: Growth of Allstate’s UBI offer Drivewise (2011–2018) 
Figure 4.4: Growth of Esurance’s UBI offer DriveSense (2011–2018) 
Figure 4.5: Travelers IntelliDrive 
Figure 4.6: Mobileye’s aftermarket ADAS system 
Figure 4.7: Schematic overview of Intact’s coverage for Uber drivers 
Figure 5.1: Insurance telematics policies and penetration (Europe 2018–2023) 
Figure 5.2: Insurance telematics policies and penetration by region in Europe 
Figure 5.3: Insurance telematics policies and penetration (North America 2018–2023) 
Figure 5.4: Insurance telematics policies by country (North America 2018–2023) 
Figure 5.5: Distribution of insurance telematics form factors (Europe 2018–2023) 
Figure 5.6: Distribution of insurance telematics form factors (North America 2018–2023) 
Figure 5.7: Key players in the insurance telematics value chain 
Figure 5.8: Leading insurance telematics programmes in Europe and North America 
Figure 5.9: Examples of telematics hardware providers serving the insurance space 
Figure 5.10: M&As in the insurance telematics space (2014–2019) 

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Admiral Group
  • CCC Information Services
  • HDI Global
  • Meta System
  • Renault-Nissan
  • TomTom Telematics
  • MORE

According to the research report, the number of insurance telematics policies in force on the European market reached 10.3 million in Q4-2018. Growing at a compound annual growth rate (CAGR) of 36.0 percent, this number is expected to reach 47.9 million by 2023. In North America, the number of insurance telematics policies in force is expected to grow at a CAGR of 36.2 percent from 10.6 million in Q4-2018 to reach 49.8 million in 2023. The US, Italy, the UK, and Canada are still the largest markets in terms of insurance telematics policies. In North America, the market is dominated by US-based Progressive, Allstate, Liberty Mutual, Nationwide and State Farm as well as Intact Financial Corporation and Desjardins in Canada. The Italian insurers UnipolSai and Generali together accounted for more than 50 percent of the telematics-enabled policies in Europe. Insurers with strong adoption in the UK moreover include Admiral Group and Direct Line.

The European insurance telematics market is largely dominated by hardwired aftermarket blackboxes while self-install OBD devices and mobile applications represent the vast majority of the active policies in North America. The researcher expects in the next years a rapid increase in the uptake of smartphone-based solutions in all markets as well as an increase in the use of OEM telematics data in insurance telematics programmes. The insurance telematics value chain spans multiple industries including a large ecosystem of companies extending far beyond the insurance industry players. Automotive OEMs show an increasing interest in insurance telematics. Examples include General Motors, Honda, BMW, Daimler, Hyundai, Toyota and FCA. “The vehicle manufacturers are expected to drive the development of insurance telematics by offering the possibility to utilise connected car OEM data in pay-how-you-drive offers”, said Martin Svegander, IoT analyst.

Notable aftermarket telematics service providers with a focus on insurance telematics include Octo Telematics that has a dominant market share and more than 5.6 million devices in insurance telematics programmes and other end-to-end solution providers such as Vodafone Automotive and Viasat Group. Targa Telematics, Trak Global Group, Cambridge Mobile Telematics, The Floow, Scope Technology and TrueMotion are also important players on the insurance telematics market. During the past years, we have seen attempts to share data between various service providers through intermediates. “The rise of marketplaces and data exchanges enables insurers to utilise telematics data from a vast range of data collection techniques as long as the policyholders agree to share their driving data”, concluded Mr. Svegander.

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  • AXA offers
  • Admiral Group
  • Agero
  • Agnik
  • Aioi Nissay Dowa
  • Alka
  • Allianz
  • Allstate
  • Amodo
  • Arity
  • Autoline
  • Aviva
  • Baseline Telematics
  • Bosch Connected Devices and Solutions
  • By Miles
  • CAA
  • CCC Information Services
  • CMT
  • CalAmp
  • Cambridge Mobile Telematics
  • Carrot Insurance
  • Chipin
  • Coverbox
  • Daimler
  • Desjardins
  • Direct Line Group
  • Dolphin Technologies
  • DriveQuant
  • DriveSense
  • FairConnect (Infomobility)
  • Fiat
  • Folksam
  • GDV
  • GM OnStar
  • Generali
  • Greater Than
  • Groupama
  • HDI Global
  • HUK-Coburg
  • Honda
  • Hyundai
  • iA Financial Group
  • IMETRIK Global
  • IMS
  • Ingenie
  • Insure Telematics Solutions
  • Insure The Box
  • Intact
  • Intelligent Mechatronic Systems (Trak Global Group)
  • Inzura
  • LexisNexis
  • Liberty Mutual
  • Link4
  • MAPFRE Group
  • MINI
  • Marmalade
  • Masternaut partner
  • Meta System
  • Metromile
  • Mobile Devices
  • Mobileye
  • Modus
  • Munich
  • MyDrive Solutions
  • Octo Telematics
  • Ohio Mutual Insurance Group
  • ÖSA
  • PHYD insurance
  • PSA Finance
  • PZU Group
  • Paydrive
  • Progressive
  • Quartix
  • Redtail Telematics
  • Renault-Nissan
  • Root Insurance
  • Scope Technology
  • Signal Iduna
  • Smartdriverclub
  • Sparkassen Versicherung
  • Spireon
  • Springworks
  • Sprint
  • State Auto
  • State Farm
  • Targa Telematics
  • Telefleet Insurance
  • Telefónica
  • Teletrac Navman
  • Telia
  • The Floow
  • TomTom Telematics
  • Towergate
  • Toyota
  • Trak Global
  • Trakm8
  • True Mileage
  • TrueMotion
  • UNIQA SafeLine
  • UnipolSai
  • VHV’s Telematik Garant
  • VOXX
  • Verisk Analytics
  • Viasat Group
  • Vodafone Automotive
  • Volkswagen
  • Zavarovalnica Triglav
  • Zendrive
  • Zurich
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The Internet of Things is very diverse. There are hundreds of different use cases, each with different dynamics. The starting point is to segment the market. The start with a  number of sectors: Automotive, Cities, Health, Industry, Home, Industrial, Energy, Retail and Consumer Electronics. Each of those sectors breaks down into a number of applications. In total across all sectors, the analyst examines around 150 separate applications. It is at this application level that they generate their IoT forecast. The analyst builds reliable data bottom-up. They take into consideration the current adoption rate, regulations, demographics, vertical-specific statistics, value chain structure, etc.

The rigorous data collection methods are based on first-hand and secondary sources. The analyst conducts many hundreds of executive interviews on a yearly basis with companies from all parts of the IoT value chain.  They talk to on a regular basis all major mobile operator groups and regulators as well as the chipset, module, and terminal vendors. They also interview many companies in each of the vertical markets.

 

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