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Usage-Based Insurance Global Market Report 2021: COVID-19 Implications and Growth

  • ID: 5411787
  • Report
  • August 2021
  • Region: Global
  • 175 pages
  • The Business Research Company

FEATURED COMPANIES

  • Allianz SE
  • Aviva plc
  • Insure The Box Limited
  • Liberty Mutual Group
  • Mapfre S.A.
  • Metromile Inc.
  • MORE
Usage-Based Insurance Global Market Report 2021: COVID-19 Implications and Growth provides the strategists, marketers and senior management with the critical information they need to assess the global usage-based insurance market.



This report focuses on usage-based insurance market which is experiencing strong growth. The report gives a guide to the usage-based insurance market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for usage-based insurance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Usage-Based Insurance market global report from the publisher answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider usage-based insurance market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The usage-based insurance market section of the report gives context. It compares the usage-based insurance market with other segments of the usage-based insurance market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, usage-based insurance indicators comparison.

Scope

Markets Covered:

1) By Vehicle Type: Light-Duty Vehicle (LDV); Heavy-Duty Vehicle (HDV)
2) By Technology: OBD-II-Based UBI Programs; Smartphone-Based UBI Programs; Hybrid-Based UBI Programs; Black-Box-Based UBI Programs
3) By Package Type: Pay-As-You-Drive (PAYD); Pay-How-You-Drive (PHYD); Manage-How-You-Drive (MHYD)

Companies Mentioned:

Allianz SE; Assicurazioni Generali S.p.A.; Aviva plc; Insure The Box Limited; Liberty Mutual Group

Countries:

Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions:

Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series:

Five years historic and ten years forecast.

Data:

Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data Segmentations:

country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing:

Data and analysis throughout the report is sourced using end notes.

This report will be delivered within 1-3 business days.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allianz SE
  • Aviva plc
  • Insure The Box Limited
  • Liberty Mutual Group
  • Mapfre S.A.
  • Metromile Inc.
  • MORE
1. Executive Summary

2. Usage Based Insurance Market Characteristics

3. Usage Based Insurance Market Trends and Strategies

4. Impact Of COVID-19 On Usage Based Insurance

5. Usage Based Insurance Market Size and Growth
5.1. Global Usage Based Insurance Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Usage Based Insurance Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market

6. Usage Based Insurance Market Segmentation
6.1. Global Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Light-Duty Vehicle (LDV)
  • Heavy-Duty Vehicle (HDV)
6.2. Global Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • OBD-II-Based UBI Programs
  • Smartphone-Based UBI Programs
  • Hybrid-Based UBI Programs
  • Black-Box-Based UBI Programs
6.3. Global Usage Based Insurance Market, Segmentation by Package Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Pay-As-You-Drive (PAYD)
  • Pay-How-You-Drive (PHYD)
  • Manage-How-You-Drive (MHYD)
7. Usage Based Insurance Market Regional and Country Analysis
7.1. Global Usage Based Insurance Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Usage Based Insurance Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

8. Asia-Pacific Usage Based Insurance Market
8.1. Asia-Pacific Usage Based Insurance Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8.3. Asia-Pacific Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

9. China Usage Based Insurance Market
9.1. China Usage Based Insurance Market Overview
9.2. China Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
9.3. China Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

10. India Usage Based Insurance Market
10.1. India Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
10.2. India Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

11. Japan Usage Based Insurance Market
11.1. Japan Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Japan Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

12. Australia Usage Based Insurance Market
12.1. Australia Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12.2. Australia Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

13. Indonesia Usage Based Insurance Market
13.1. Indonesia Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13.2. Indonesia Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

14. South Korea Usage Based Insurance Market
14.1. South Korea Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14.2. South Korea Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

15. Western Europe Usage Based Insurance Market
15.1. Western Europe Usage Based Insurance Market Overview
15.2. Western Europe Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15.3. Western Europe Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

16. UK Usage Based Insurance Market
16.1. UK Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16.2. UK Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

17. Germany Usage Based Insurance Market
17.1. Germany Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17.2. Germany Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

18. France Usage Based Insurance Market
18.4. France Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18.5. France Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

19. Eastern Europe Usage Based Insurance Market
19.1. Eastern Europe Usage Based Insurance Market Overview
19.2. Eastern Europe Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19.3. Eastern Europe Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

20. Russia Usage Based Insurance Market
20.1. Russia Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20.2. Russia Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

21. North America Usage Based Insurance Market
21.1. North America Usage Based Insurance Market Overview
21.2. North America Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21.3. North America Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

22. USA Usage Based Insurance Market
22.1. USA Usage Based Insurance Market Overview
22.2. USA Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22.3. USA Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

23. South America Usage Based Insurance Market
23.1. South America Usage Based Insurance Market Overview
23.2. South America Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23.3. South America Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

24. Brazil Usage Based Insurance Market
24.1. Brazil Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24.2. Brazil Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

25. Middle East Usage Based Insurance Market
25.1. Middle East Usage Based Insurance Market Overview
25.2. Middle East Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25.3. Middle East Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

26. Africa Usage Based Insurance Market
26.1. Africa Usage Based Insurance Market Overview
26.2. Africa Usage Based Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26.3. Africa Usage Based Insurance Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

27. Usage Based Insurance Market Competitive Landscape and Company Profiles
27.1. Usage Based Insurance Market Competitive Landscape
27.2. Usage Based Insurance Market Company Profiles
27.2.1. Allianz SE
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Assicurazioni Generali S.p.A.
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Aviva plc
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Insure the Box Limited
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Liberty Mutual Group
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers and Acquisitions in the Usage Based Insurance Market

29. Usage Based Insurance Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allianz SE
  • Aviva plc
  • Insure The Box Limited
  • Liberty Mutual Group
  • Mapfre S.A.
  • Metromile Inc.
  • MORE
Major players in the usage-based insurance market are Allianz SE, Assicurazioni Generali S.p.A., Aviva plc, Insure The Box Limited, Liberty Mutual Group, Mapfre S.A., Metromile Inc., Nationwide Mutual Insurance Company, Progressive Casualty Insurance Company, The Allstate Corporation, Cambridge Mobile Telematics, Esurance Insurance Services Inc., Modus Group LLC, Octo Group, Safeco Insurance, State Farm Automobile Mutual Insurance Company, and TrueMotion Inc.

The global usage-based insurance (UBI) market is expected to grow from $34.53 billion in 2020 to $43.31 billion in 2021 at a compound annual growth rate (CAGR) of 25.4%. The change in growth trend can be attributed to the growing demand from the end-user industry. The market is expected to reach $104.79 billion in 2025 at a CAGR of 24.7%.

The usage-based insurance (UBI) market consists of sales of usage-based insurance services by entities (organizations, sole traders, and partnerships) that provide auto insurance services by placing monitoring devices in the vehicle. UBI is frequently powered by telematics technology, which is accessible in vehicles via a plug-in device or is pre-installed in the car system, and that can also be accessed via mobile apps and delivers insurers with a variety of data, including how far vehicle is driven, how it is driven, and where it is driven.

The main vehicle types of usage-based insurance are light-duty vehicles (LDV) and heavy-duty vehicles (HDV). Light-duty vehicles are passenger cars having a maximum gross vehicle weight less than 8500 lbs while heavy duty vehicles have a higher gross vehicle weight. The different technologies include OBD-II-based UBI programs, smartphone-based UBI programs, hybrid-based UBI programs, black-box-based UBI programs and are used in various types of packages such as pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), manage-how-you-drive (MHYD).

North America was the largest region in the usage-based insurance (UBI) market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Technological advancements are shaping the usage-based insurance market. Major companies operating in the usage-based insurance sector are focused on developing technological solutions for usage-based insurance to strengthen their position in the market. For instance, in June 2020, TATA AIG, an India-based general insurance company launched an AutoSafe device based on telematics technology. AutoSafe will be included in all policies and would provide personal accidental coverage of approximately $0.02 million for both the owner and the driver. The Auto Safe device is GPS-enabled and connected to a mobile app that saves all data, monitors distance traveled, and creates reports regarding the car health and driving behaviors of the policy holder.

In January 2021, The Allstate Corporation a US-based insurance company has acquired National General Holdings Corp for a deal amount of $4 billion. The acquisition would enable The Allstate Corporation to grow their personal lines insurance with an increase in market share. The accident and health business of National General will further expand Allstate circle of protection. National General Holdings Corp is a US-based personal line insurance company that provides personal and commercial automobile insurance, health insurance, and other niche insurance products.

The expansion of the automobile industry is expected to propel the growth of the usage-based insurance market in the coming years. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Car owners are interested in telematics-driven usage-based insurance since it provides low premiums for low-risk driving and high premiums for high-risk driving. As a result, by correcting their driving habits, individuals can drastically lower their insurance premiums. According to the Economist Intelligence Unit (The EIU), in 2021, the global automotive sector is expected to grow rapidly, with new car sales increasing by 15% and commercial vehicle sales increasing by 16%. Electric vehicle sales are expected to increase from 2.5 million in 2020 to 3.4 million in 2021. Therefore, the growth in the automobile industry drives the growth of the usage-based insurance market.

The countries covered in the usage-based insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Allianz SE
  • Assicurazioni Generali S.p.A.
  • Aviva plc
  • Insure The Box Limited
  • Liberty Mutual Group
  • Mapfre S.A.
  • Metromile Inc.
  • Nationwide Mutual Insurance Company
  • Progressive Casualty Insurance Company
  • The Allstate Corporation
  • Cambridge Mobile Telematics
  • Esurance Insurance Services Inc.
  • Modus Group LLC
  • Octo Group
  • Safeco Insurance
  • State Farm Automobile Mutual Insurance Company
  • TrueMotion Inc.
Note: Product cover images may vary from those shown

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